Bahrain’s sovereign wealth fund and Singapore’s private investment company Whampoa Group have announced a joint digital bank: Singapore Gulf Bank (SGB)

According to TechFlow, on October 2, Bahrain’s sovereign wealth fund Mumtalakat and Singapore’s private investment company Whampoa Group announced the joint launch of a digital bank: Singapore Gulf Bank (SGB), and appointed Ali AlShamma as Chief Financial Officer (CFO) and Elaine Leong as Chief Operating Officer (COO).

SGB ​​is Bahrain’s first fully licensed digital bank, serving global investors, innovators and institutions, and is expected to open in November 2024.

It is reported that Whampoa Group is a private investment company supported by Singapore's Lee Whampoa Group.