SG investment firm Whampoa Group to build digital bank in Bahrain

It aims to establish a digital bank by the end of this year.

Singapore-based investment firm Whampoa Group announced its plans to establish a digital bank in Bahrain. 

This move aims to offer comprehensive financial services that are secure and seamlessly integrated, ultimately fostering the expansion of the digital assets industry, said the Singapore-based investment group in a press release.

Whampoa said it aims to finish the digital bank’s establishment by the end of 2023.

"We were impressed by Bahrain’s solid reputation in the financial services sector, transparent regulatory framework, and ongoing pledge to collaborate and innovate. We are committed to providing innovative digital financial solutions in line with global best practices and are confident that our digital bank will set a new benchmark for the industry.” Shawn Chan, Group CEO of Whampoa Group, said.