MANAMA: Mumtalakat, the sovereign wealth fund of Bahrain, and Mubadala, the sovereign wealth fund of the UAE, have agreed to establish a joint investment fund for projects in both countries and abroad.
The announcement follows a meeting between Mumtalakat chief executive Khalid Al Rumaihi and Mubadala managing director and group chief executive Khaldoon Al Mubarak.
Following discussions, the two entities agreed to collaborate on areas of mutual interest and encourage cooperation in investments beneficial to the interests of both Bahrain and the United Arab Emirates.
Mr Al Rumaihi commended the depth of Bahrain-UAE diplomatic and economic ties, and highlighted the importance of the official visit to the UAE, led by His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, in furthering cooperation across a range of investment initiatives and areas.
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