SICO Completes the Merger of its Subsidiary “SICO Funds Services Company” into its Operations

As part of completing the merger, SICO Funds Services Company, a separate legal entity, notified the Central Bank of Bahrain of its intention to voluntarily surrender its license. This followed the completion of all regulatory and legal requirements, including the transfer of all of the company’s business and operations to SICO BSC (The Bank) and the liquidation of the company by a licensed liquidator. This merger process concluded with the Central Bank of Bahrain issuing its formal notice revoking the SFS license. The merger had no impact on the wholesale banking license or ongoing operations of SICO B.S.C. (c). The Bank continues to operate and serve its clients as usual under its wholesale banking license issued by the Central Bank of Bahrain.

Following the transfer of SFS’s business to SICO (The Bank), all fund administration, fund accounting, and custody services are now provided directly through SICO B.S.C. (c) (The Bank). The integration further strengthens operational efficiency while providing clients with seamless access to a comprehensive suite of financial solutions under one institution, including asset management, investment banking, brokerage, market making, custody, and fund administration.

Commenting on the completion of the merger, Najla Al Shirawi, Group Chief Executive Officer of SICO, said: “The completion of this merger marks an important milestone in SICO’s journey to further integrate its services and strengthen its business model. By merging SICO Funds Services Company, our previously wholly owned subsidiary, into the parent company, we have taken a strategic step to optimize capital utilization, enhance operational efficiency, and deliver an even better client experience. The merger also enables us to unify resources, streamline processes, and achieve greater cost efficiency, while supporting our plans to develop a unified digital investor portal that will provide clients with easier and more seamless access to our services and the management of their investments. This milestone reflects SICO’s continued commitment to innovation, developing integrated financial solutions, and reinforcing its position as a leading regional financial institution.”

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