Mumtalakat to invest in Whampoa-backed Singapore Gulf Bank

Mumtalakat to invest in Whampoa-backed Singapore Gulf Bank

Bahrain Mumtalakat Holding Company (Mumtalakat), the Sovereign Wealth Fund of the Kingdom, has announced that it will be investing in Singapore Gulf Bank (SGB), a new digital bank backed and founded by Whampoa, a privately-held investment group headquartered in Singapore. The announcement was made in the presence of His Excellency Salman bin Khalifa Al Khalifa, […]Bahrain Mumtalakat Holding Company (Mumtalakat), the Sovereign Wealth Fund of the Kingdom, has announced that it will be investing in Singapore Gulf Bank (SGB), a new digital bank backed and founded by Whampoa, a privately-held investment group headquartered in Singapore.

The announcement was made in the presence of His Excellency Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy and Chairman of Mumtalakat and the Co-Chairpersons of the Whampoa Group, Mr. Lee Han Shih and Madam Amy Lee.

Mumtalakat’s investment will enable SGB to effectively launch and grow its business in Bahrain and follows SGB’s recent award of a banking license by the Central Bank of Bahrain (CBB), marking a major milestone in Whampoa’s growth plans and ambitions in the Middle East and North Africa (MENA).

SGB will offer a secure and integrated platform to access and manage conventional and digital assets and financial solutions, including