Omani businesswoman Sheikha Amal Suhail Bahwan, chair of the National Bank of Oman and vice chair of Suhail Bahwan Group Holding, has acquired a stake in UK-based Monument Bank. The ‘neo bank’, which focuses on the mass-affluent market, is strategizing to license its technology in new markets, with Oman included in its expansion plans. Sheikha Bahwan will play a role in guiding Monument’s UK strategy and its ventures into other markets, riding on her confidence in the bank’s strong positioning to tap into a significant market opportunity. Fiona Pollard, the chair of Monument, distinguishes the bank’s unique global positioning in servicing the mass-affluent segment exclusively. Since its inception in August 2017, as per the UK Companies House records, Monument has seen substantial growth, amassing over 2 billion USD in interest-bearing assets. The financial advisory role during this investment was played by Dubai’s Alpen Capital. The transaction signifies a cross-border interest in emerging digital banking platforms and underscores the trend of geographic expansion of such entities into the Middle East.

Banking & Finance, Technology,United Kingdom, Oman, Dubai