Bahrain to restructure board of wealth fund Mumtalakat: BNA

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 chief executive, state news agency BNA reported on Sunday.

Mumtalakat, which has a little 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 Aluminum Bahrain, the world’s largest aluminum smelter outside of China.