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Bahrain’s Mumtalakat fund discusses investment avenues with Israel’s economic council

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The chief executive officer of Bahrain’s Mumtalakat sovereign wealth fund, Khalid Al Rumaihi discussed investment opportunities and joint projects with the head of Israel’s National Economic Council, Avi Simhon, the Bahraini Embassy in the United States said on Twitter on Wednesday.

Bahrain and the United Arab Emirates began last year normalizing ties with Israel, in a deal brokered by the United States that marked a strategic Middle East alignment against Iran.

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The Gulf state, which based the 2021-2022 budget on an oil price assumption of $50 a barrel, expects the economy to grow 5 percent this year, state news agency BNA said BNA said on Tuesday.

Mumtalakat will double its contributions to government revenues, said the agency, as Bahrain seeks to boost non-oil revenues.

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