During the Fintech Forward Forum, SICO BSC (c), a leading regional asset manager, broker, market maker, and investment bank with physical presence in Bahrain, Saudi Arabia, and the UAE announced its appointment by FLOOSS Bahrain B.S.C. (C), Bahrain’s first digital platform providing instant, Sharia-compliant financing and licensed by the Central Bank of Bahrain (CBB) as a financing company, to act as financial advisor and lead manager for a proposed securitization sukuk issuance of up to USD 10 million subject to CBB approval
This transaction reflects ongoing efforts to advance shariah compliant capital markets instruments in the kingdom
Ali Marshad, SICO’s Group Deputy Chief Executive Officer, commented : “We are proud to partner with Flooss on this pioneering initiative, which will contribute to Bahrain’s fixed-income market with a new Sharia-compliant instrument. This transaction sets the stage for further innovation in financing solutions that drive growth.”
Fawaz Ghazal , Flooss Group CEO added : “The proposed structure of Flooss’s first up to USD 10 million Sukuk, in collaboration with SICO, marks a strategic step toward strengthening our funding base and diversifying our capital structure to support healthy, balanced, and Sharia-compliant growth.
This step underscores our commitment to embedded finance and innovation in delivering financial solutions, reinforcing Flooss’s position as a leading provider of digital financial services in the region.”
About SICO
SICO is a leading regional asset manager, broker, and investment bank with USD 8.0 bn in assets under management (AUM). Today, SICO operates under a wholesale banking licence from the Central Bank of Bahrain and also oversees two wholly owned subsidiaries: an Abu Dhabi-based brokerage firm, SICO Invest, and a full-fledged capital markets services firm, SICO Capital, based in Saudi Arabia. Headquartered in the Kingdom of Bahrain with a growing regional and international presence, SICO has a well-established track record as a trusted regional bank offering a comprehensive suite of financial solutions, including asset management, brokerage, investment banking, and market making, backed by a robust and experienced research team that provides regional insight and analysis of more than 90 percent of the region’s major equities. Since inception in 1995, SICO has consistently outperformed the market and developed a solid base of institutional clients. Going forward, the bank’s continued growth will be guided by its commitments to strong corporate governance and developing trusting relationships with its clients. The bank will also continue to invest in its information technology capabilities and the human capital of its 150 exceptional employees.