Mumtalakat and ARP Group partner to launch AI-driven wholesale bank in Bahrain
Bahrain’s sovereign wealth fund and ARP Group have announced plans to establish a technology-focused bank targeting institutional clients.
Bahrain Mumtalakat Holding Company, the Kingdom's sovereign wealth fund, has partnered with ARP Group to develop a wholesale bank centered on artificial intelligence and blockchain infrastructure. The project has received in-principle approval from the Central Bank of Bahrain, with full operations pending final regulatory clearance.
The proposed entity aims to address the needs of financial institutions and multinational corporations with complex cross-border banking requirements. By utilizing an AI-native operational model and API-driven services, the partners intend to streamline financial transactions and reduce service costs.
Yusuf Alireza, Chairman of ARP Group, stated that the bank will combine a regulated balance sheet with advanced digital infrastructure to solve service fragmentation. The rollout of specific products is expected to be incremental, based on direct engagement with prospective institutional clients.