Manama : The Central Bank of Bahrain (CBB) and ARRAY Innovation, a local portfolio company of Bahrain Mumtalakat Holding Company, have signed a partnership agreement to accelerate its digital transformation initiatives.
The partnership agreement was signed in the presence of Khalid Humaidan, Governor of the CBB, and Shaikh Abdulla bin Khalifa Al Khalifa, CEO of Mumtalakat, on the sidelines of the FS Horizons: Doubling Down on Digital event, hosted in collaboration with the Bahrain Economic Development Board (EDB).
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.
Mohamed Abdulla Abdulkarim, Executive Director of Corporate Services at the CBB, said that they are pleased to work with a partner whose expertise and technology solution development capabilities align with the CBB’s vision for regulatory innovation and growth, as well as their ongoing efforts to deploy and develop a robust digital ecosystem.
He added that through this public-private partnership, the aim is to enhance the CBB’s institutional capacity, strengthen its technology infrastructure, and further solidify Bahrain’s position as a regional financial hub.
Alaa Saeed, CEO and Founder of ARRAY Innovation, said that they are honoured to support the CBB on this strategic journey.
He added that their 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.
He also noted that the partnership underscores their dedication to nurturing local tech talent in Bahrain and contributing to the growth of its innovation economy.
