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.
