MANAMA – November 01, 2026 -- Bahrain's sovereign wealth fund, Bahrain Mumtalakat Holding Company, and ARP Group have partnered to establish an AI-native, blockchain-enabled wholesale bank headquartered in Bahrain, which has already received in-principle approval from the Central Bank of Bahrain.

The venture will begin regulated activities only after it obtains final authorisation. The partnership was announced on the sidelines of Gateway Gulf 2026.

Bank targets regulated institutions, payment firms and cross-border businesses

The proposed bank is intended to serve regulated financial institutions, payment companies and businesses operating across several markets and currencies. It aims to use technology to reduce the complexity and cost of serving these clients.

ARP Group is the holding company of ARP Global Capital and ARP Digital. Yusuf Alireza co-founded ARP Digital with Abdulla and Abdulaziz Kanoo.

Bank design embeds AI and API-based services from the outset

The bank is being designed to use artificial intelligence across its operations. It will offer programmable services that connect directly to client systems through APIs, with human oversight, governance and risk controls. Products will launch in phases, shaped by engagement with prospective clients.

Alireza, Chairman of ARP Group, said institutional clients with complex cross-border needs still face "fragmented banking services." He said the venture will pair a regulated bank's balance sheet and institutional relationships with blockchain-enabled technology and AI built into its operating model.

Mumtalakat frames investment as support for Bahrain's financial hub status

Shaikh Abdulla bin Khalifa Al Khalifa, Chief Executive Officer of Mumtalakat, said the investment is meant to strengthen the competitiveness of Bahrain's financial sector. He said it will also create opportunities for Bahraini talent and generate sustainable returns. ARP says the bank will support clients across the Gulf and international markets.