Kanoo Ventures, a leading investment company in the region and a Strategic Business Unit of the Yusuf bin Ahmed Kanoo Group, announced its partnership with Whampoa Group, a privately-held investment group headquartered in Singapore, to invest in the Singapore Gulf Bank (SGB), a newly established digital bank set to open in the Kingdom of Bahrain. The partnership was signed by Mr. Nabeel Khalid Kanoo, Chairman of Kanoo Ventures, and Mr. Shawn Chan, Group CEO of Whampoa Group.
SGB will provide a unique digital banking experience, customized to meet the requirements of a wide array of global investors, innovators, and institutions. It is set to deliver a robust and seamless platform for accessing and overseeing both traditional and digital assets, along with a suite of financial solutions.
Mr. Nabeel Khalid Kanoo, Chairman of Kanoo Ventures, stated: “We are pleased to announce this strategic investment partnership with Whampoa Group to solidify Singapore Gulf Bank’s (SGB) position within the Middle East and North Africa region (MENA). Kanoo Ventures is focused on expanding its investment portfolio across different sectors, reaffirming our confidence in Whampoa Group and their capabilities in digital solutions through the establishment of SGB”.
Mr. Shawn Chan, CEO of Whampoa Group, said: “Kanoo Ventures will play a pivotal role in not only solidifying the bank’s established presence in the Kingdom of Bahrain but also in propelling its expansion efforts across the wider region. By infusing capital and expertise, this investment will empower SGB to enhance its market position and deepen its roots within Bahrain’s financial landscape.”
This investment underscores Kanoo Ventures’ strategic focus on supporting the Kingdom’s economic advancement through targeted investments in cutting-edge technological solutions. By fostering innovation and entrepreneurship, Kanoo Ventures with its investment in SGB will help in contributing to the advancement of the digital banking ecosystem in the Kingdom.
