You can change your name as often as you like. Do it lots/frequently and you’re likely to hit roadblocks and extra checks that you’re not committing fraud, though!

To be accepted for inclusion on government ID (e.g. passport, driving license) as well as by many organisations (including banks) your name must be written in the Latin alphabet only. You can, however, have an Arabic name that you transliterate into English for the purposes of your ID/bank accounts etc.