| Bahrain Mumtalakat Holding Company
Bahrain Mumtalakat Holding Company
| Bahrain Mumtalakat Holding Company
The legal department at Bahrain Mumtalakat Holding Company – the sovereign wealth fund of Bahrain – has undergone a major structural overhaul of its previously undocumented processes, in addition to...
Established in 2006, Bahrain Mumtalakat Holding Company actively manages and grows a portfolio of commercial assets. The growth of the company has prompted the addition of four new members to the legal team in the last two years, with all lawyers being Bahraini nationals with a mixture of qualifications of both local and international (the exception is Australian-qualified general counsel Rima Al Masri). ‘The team compliments each other’s skillset as well as the skill requirements of Mumtalakat as an investment company’, says Al Masri. In the face of rapid growth and new technology, the team has implemented a legal services platform enabling easier management work-load. Furthermore, the legal team has initiated discussions with certain regulatory bodies and ministries to lobby for optimal statutory and regulatory frameworks that are conducive to the business and investment activities of the company. In the last year the legal team has adapted an IT platform that allows them to function as a ‘call-centre’ for legal services to internal clients, allowing the team to clearly manage a high volume of requests and direct the requests to an appropriate member of the team, dependent on the expertise required. Over a single month the seven-strong team is called upon for an estimated 173 legal requests. Moreover, having built a reputed presence in legal, the team if often approached by other government departments and members of the private sectors to advice on processes and provide legal guidance, a true testament to their division’s accomplishments.