Banking & Finance Bahrain restructures board of wealth fund Mumtalakat By Reuters September 5, 2022, 5:20 AM BNA Crown Prince Salman bin Hamad Al-Khalifa Bahrain’s Crown Prince Salman bin Hamad Al-Khalifa, the prime minister, has issued an order to restructure the board of sovereign wealth fund Mumtalakat Holding with Finance Minister Salman bin Khalifa Al-Khalifa as its chairman, with immediate effect, state news agency BNA reported on Sunday. The members of the new Mumtalakat board will serve for a four-year term, the news agency reported. Mumtalakat, which has just more than $18 billion in assets under management, released its standalone annual results in June, showing that it had swung to profit in 2021 from a loss in 2020. Its portfolio includes stakes in British racing team and supercar maker McLaren and Aluminium Bahrain, the world’s largest aluminium smelter outside of China. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
