Bahrain Mumtalakat Partners with ARP to Launch Innovative Digital Bank

Bahrain Mumtalakat Holding Company has partnered with ARP Group to establish an AI-native, blockchain-enabled wholesale bank. The Central Bank of Bahrain has granted in-principle approval, but the bank cannot commence regulated activities until it receives final authorization. The bank aims to serve regulated financial institutions and payment companies, simplifying cross-border operations. It is designed to be AI-native from the outset, distinguishing it from traditional banks that are transitioning to digital.