Mumtalakat and ARP Group to establish AI-driven wholesale bank in Bahrain

Bahrain Mumtalakat Holding Company and ARP Group have partnered to launch a new wholesale bank headquartered in Bahrain, anchored in artificial intelligence and blockchain technology. The project has received preliminary approval from the Central Bank of Bahrain and will begin operations once final regulatory authorization is secured.

The proposed institution will cater to regulated financial institutions, payment firms, and businesses with cross-border operations. By integrating AI into its operational framework and utilizing API-driven services, the bank aims to reduce the complexity and costs associated with multi-market banking.

ARP Group chairman Yusuf Alireza stated that the initiative addresses current market gaps where institutional clients face fragmented banking services. Mumtalakat CEO Sheikh Abdulla bin Khalifa Al Khalifa noted that the investment is intended to bolster Bahrain’s position as a regional financial hub and support the sector's long-term evolution.