The Group plans to launch the bank before the end of the year.
As per reports “in principle approval” has been given by the Central Bank of Bahrain.
On May 18, the Economic Development Board of the Kingdom of Bahrain announced that the Whampoa Group, a Singaporean family office, will establish a digital bank in the country. The Group plans to launch the bank before the end of the year, targeting customers all around the world.
In addition to traditional banking services, the bank will also provide digital asset trading, custody, and management. As per reports “in principle approval” has been given by the Central Bank of Bahrain. With the caveat that all conditions must be met.
Amy Lee, the niece of Singaporean leader Lee Kuan Yew, is affiliated with Whampoa Group via her father, Lee Han Shih. He runs the Singaporean multimedia behemoth Potato Productions. Whampoa Digital was founded in 2021, as stated on their LinkedIn profile. In June of 2022, it invested in a $500 million fun
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