Mumtalakat and ARP Group Partner to Launch AI-Native Wholesale Bank in Bahrain
Bahrain's sovereign wealth fund, Mumtalakat, has partnered with ARP Group to establish a new wholesale bank headquartered in Bahrain. The institution will leverage artificial intelligence and blockchain technology to serve regulated financial institutions, payment companies, and enterprises involved in cross-border operations. The proposed bank aims to reduce the complexity and cost of multi-market and multi-currency services through programmable API-driven solutions. While the project has received principle approval from the Central Bank of Bahrain, full regulatory authorization is required before formal operations commence.