Singapore Gulf Bank Secures Funding From Bahrain’s Sovereign Wealth Fund

Singapore Gulf Bank Secures Funding From Bahrain’s Sovereign Wealth Fund

Bahrain’s sovereign wealth fund Mumtalakat announced an investment in Singapore Gulf Bank (SGB), a new digital bank founded by Whampoa Group. This investment will support SGB’s launch and growth in

The post Singapore Gulf Bank Secures Funding From Bahrain’s Sovereign Wealth Fund appeared first on Fintechnews Middle East.Bahrain’s sovereign wealth fund Mumtalakat announced an investment in Singapore Gulf Bank (SGB), a new digital bank founded by Whampoa Group.

This investment will support SGB’s launch and growth in Bahrain, following the bank’s recent licensing approval from the Central Bank of Bahrain.

SGB will offer a digital banking platform for global investors, institutions, and innovators, providing access to conventional and digital assets, real-time settlements, and asset management.

The bank aims to bridge the gap between Asia and the Middle East and North Africa (MENA) region, facilitating cross-border trade and promoting financial connectivity.

Bahrain’s established financial hub, growing economy, and strategic location make it an ideal launchpad for SGB.

The bank will also contribute to the development of Bahrain’s digital banking sector and is expected to make the country the first in the region to allow remote onboarding of banking clients.

Mumtalakat’s investment aligns with its strategy to diversify its portfolio and support the transformation of Bahrain’s economy.

Aureole Foong

Aureole Foong,