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Tue 6 Aug 2019 03:33 PM

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Bahrain's sovereign wealth fund appoints new CEO

Bahrain Mumtalakat Holding Company announces appointment of Khalid Al Rumaihi as CEO

Bahrain's sovereign wealth fund appoints new CEO

The board of the Bahrain Mumtalakat Holding Company, the country's sovereign wealth fund, has appointed Khalid Al Rumaihi as CEO.

A member of the board and head of the board investment committee since 2015, Al Rumaihi has steered Mumtalakat’s investment strategy.

At the same time, he has led the Bahrain Economic Development Board (EDB) as its chief executive, responsible for driving inward investment into the kingdom.

"Al Rumaihi has been instrumental in Mumtalakat’s growth over the last few years. The board has the utmost confidence in his leadership ability, intelligence and integrity and looks forward to seeing Mumtalakat continue to pursue the highest principles of corporate governance, generating wealth for the kingdom," said Sheikh Khalid bin Abdulla Al Khalifa, Deputy Prime Minister and chairman of the board.

The new CEO also serves as the chairman of Bahrain Real Estate Investment (Edamah) and chairman of the Bahrain Development Bank.

He is a board member of the National Bank of Bahrain, Bahrain Tourism & Exhibitions Authority and the National Oil & Gas Authority.

Al Rumaihi said: "Having been associated with Mumtalakat for the last four years, I’m excited at this expansion of my role and the forthcoming challenge. We will continue to surge forward, creating a positive economic impact in Bahrain while expanding our portfolio to adapt and cater to the changing economic climate."

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