SICO Signs Agreement with Bahrain Bourse Offering New Sukuk-based Murabaha Service
26/07/2020
SICO BSC (c), a leading regional asset manager, broker, market maker and investment
bank (licensed as a wholesale bank by the CBB), announced today that it has signed an
agreement to begin offering the Bahrain Bourse’s newly established sukuk-based Murabaha
service, launched in collaboration with the Central Bank of Bahrain (CBB), when conducting
Islamic commodity Murabaha financing transactions with sukuks as collateral. The
announcement was made at a virtual signing ceremony held on 14 July 2020 between SICO,
The CBB and The Bahrain Bourse.
“We are extremely pleased to be part of this platform and would like to commend the CBB
and the Bahrain Bourse for their efforts in offering innovative solutions that support Shariacompliant
asset management services,” said Najla Al-Shirawi, Chief Executive Officer at
SICO. “We hope that with this partnership and other collaborative efforts, we can leverage
such initiatives in order to further build on the successful track record of our asset management business and increase our range of financial service offerings across Bahrain
and the region.”
For the full release in English & Arabic, click here