SICO Signs Agreement with Bahrain Bourse Offering New Sukuk-based Murabaha Service


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.”

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