Our History
The creation of Mumtalakat and a Royal Decree establishing its mandate was issued on 29th June 2006
Our journey began in 2005 at an economic reform workshop held under the patronage of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince of Bahrain. With a focus on enhancing the private sector’s role to advance economic growth in the Kingdom, a vision was brought to life, serving as the basis for the next phase of the national economic reform initiative.
Within this overarching vision of economic reform, the Bahrain Economic Development Board (EDB) worked hand in hand with the Ministry of Finance and National Economy to set up a holding company focused on developing a balanced portfolio aimed at achieving sustainable growth. This resulted in the creation of Mumtalakat, with a Royal Decree issued on 29th June 2006 to formally establish its national mandate .
Established to align with and execute the government’s initiatives, through pursuing value-enhancing opportunity es, improving governance and achieving operational excellence, the Arabic name “Mumtalakat” (or assets) was chosen to reflect the importance of the new holding company’s mandate. Upon our establishment, 29 commercial assets representing major local corporations were transferred to Mumtalakat from the Ministry of Finance and National Economy, along with a one-time founding capital of BD5 million. Since then, our portfolio has grown to more than 50 corporate investments and expanded well beyond Bahrain’s borders.
