Mumtalakat and ARP Group partner to set up an AI-native wholesale bank in Bahrain

Bahrain Mumtalakat Holding Company, the kingdom's sovereign wealth fund, and ARP Group have announced a partnership to establish an AI-native, blockchain-enabled wholesale bank headquartered in Bahrain. The Central Bank of Bahrain has given in-principle approval. The bank can begin regulated activities only after final authorisation, which it has not yet received.

It would serve regulated financial institutions, payment companies and businesses with cross-border operations. It plans to use AI across its operations and to offer API-based programmable services, with human oversight and risk controls, introducing products in phases informed by client engagement.

ARP Group is the holding company of ARP Global Capital and ARP Digital. Capital, the ownership split between the partners and the timeline to launch were not disclosed. Mumtalakat CEO Shaikh Abdulla bin Khalifa Al Khalifa and ARP Group Chairman Yusuf Alireza are quoted in the release.