According to Odaily Planet Daily, digital bank Singapore Gulf Bank (SGB) announced today the appointment of Ali AlShamma as Chief Financial Officer and Elaine Leong as Chief Operating Officer. These strategic appointments strengthen SGB's mission to achieve frictionless interaction between digital and traditional finance. The bank will be launched in November 2024.

Ali AlShamma, who previously served as CFO at Goldman Sachs Saudi Arabia and Citi Saudi Arabia, will lead SGB’s financial strategy and build market bridges between Asia and the Middle East and North Africa (MENA) region.

As COO, Elaine Leong will bring her expertise from GIC and Sygnum to SGB’s global operations, delivering hyper-connected solutions for a digital-first ecosystem.

According to reports, SGB has received support from Bahrain's sovereign wealth fund Mumtalakat and Singapore's private investment institution Whampoa Group. It is also Bahrain's first fully licensed digital bank, serving global investors, innovators and institutions. SGB is oriented towards the digital economy, promoting the seamless connection between digital finance and traditional finance, and realizing financial interconnection between Asia and the Middle East and North Africa.