SICO Joins Bahrain Bourse’s Platform to Offer Sukuk-Based Murabahah Services

Bahrain-based SICO has signed an agreement to begin offering Sukuk-based Murabahah services on the new platform established through the collaboration of the Bahrain Bourse (BHB) and the Central Bank of Bahrain (CBB).

According to Shaikh Khalifa bin Ebrahim Al Khalifa, Chief Executive Officer of the BHB, the Ijarah Sukuk-based Murabahah service allows participating financial institutions to offer Murabahah services via an efficient system, which aims at addressing growing inter-bank requirements, and also serves to promote Bahrain as a hub for Shariah-compliant transactions.

The platform established by the BHB and CBB aims to promote Shariah-compliant structures as a key financing o...