The Central Bank of Bahrain (CBB) has entered into a strategic partnership with ARRAY Innovation, a local portfolio company of Mumtalakat, to accelerate its digital transformation initiatives.
The partnership agreement was signed in the presence of CBB Governor Khalid Humaidan, and Mumtalakat chief executive Shaikh Abdulla bin Khalifa Al Khalifa, on the sidelines of the FS Horizons: Doubling Down on Digital event, hosted in collaboration with the Bahrain Economic Development Board.
As part of the agreement, ARRAY Innovation will provide strategic advisory and professional services to the CBB to develop and execute key technology initiatives, drawing on its global expertise in payments technology, artificial intelligence (AI), and cloud-based solutions.
Commenting on the partnership, CBB executive director of corporate services Mohamed Abdulla Abdulkarim said, “We are pleased to work with a partner whose expertise and technology solution development capabilities align with CBB’s vision for regulatory innovation and growth, and our ongoing efforts in deploying and developing a robust digital ecosystem.
“With this public-private partnership, our aim is to enhance CBB’s institutional capacity, strengthen our technology infrastructure, and further solidify Bahrain’s standing as a regional financial hub.”
ARRAY Innovation founder and CEO Alaa Saeed said, “We are honoured to support the CBB on this strategic journey. Our team will work closely with the bank to introduce solutions that drive impact and advance the kingdom’s broader ambitions for digital enablement and economic diversification.
“This partnership also underscores our dedication towards nurturing local tech talent in Bahrain and contributing to the growth of its innovation economy.”
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