The Central Bank of Bahrain (CBB) has teamed up with ARRAY Innovation, a local portfolio company of Bahrain Mumtalakat Holding Company, to drive digital transformation.
The partnership was formalized on the sidelines of the FS Horizons: Doubling Down on Digital event, hosted in collaboration with the Bahrain Economic Development Board.
The signing ceremony was held in the presence of HE Khalid Humaidan, Governor of the Central Bank of Bahrain, and HE Shaikh Abdulla bin Khalifa Al Khalifa, Chief Executive Officer of Mumtalakat.
Under the agreement, ARRAY Innovation will provide the bank with strategic advisory and professional services to drive digital transforming by developing and implementing key technology initiatives, leveraging its deep expertise in payments technology, artificial intelligence (AI) and cloud-based solutions.
Mohamed Abdulla Abdulkarim Executive Director of Corporate Services – the CBB
“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.”
Alaa Saeed, Chief Executive Officer and Founder of ARRAY Innovation, added that, “We are honored 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.”
