SICO, a leading regional asset manager, broker, market maker, and investment bank, has announced its appointment by Flooss Bahrain, the kingdom'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 securitisation sukuk issuance of up to $10 million subject to CBB approval.
This transaction, announced during the Fintech Forward Forum, 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 $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.” - TradeArabia News Service
Send us your company’s news today and they could be featured on ABC’s Community News tommorow.
