Mumtalakat and ARP Group partner to launch AI-native wholesale bank in Bahrain
Bahrain's sovereign wealth fund, Mumtalakat, and ARP Group have announced a partnership to establish a new wholesale bank centered on artificial intelligence and blockchain technology.
Bahrain Mumtalakat Holding Company (Mumtalakat) and ARP Group have entered into a partnership to launch an AI-native wholesale bank based in Bahrain. The project, unveiled during the Gateway Gulf 2026 event, has received initial approval from the Central Bank of Bahrain and will begin operations pending final regulatory licensing.
The proposed financial institution intends to provide services to regulated financial entities, payment companies, and businesses with cross-border operations. By utilizing artificial intelligence and blockchain, the bank aims to automate complex financial processes and offer programmable services via API integrations. Mumtalakat CEO Sheikh Abdulla bin Khalifa Al Khalifa stated that the initiative is designed to bolster Bahrain's status as a regional financial hub while fostering long-term economic growth.
Yusuf Alireza, chairman of ARP Group, noted that the venture seeks to address the fragmentation currently faced by institutional clients. By integrating technology into the bank's core operational model, the firm plans to offer more efficient services compared to traditional wholesale banking structures. Products and services are expected to be introduced in stages based on ongoing client demand.