SICO completes the merger of its subsidiary, SICO Funds Services Company, into its operations

SICO B.S.C. (c), the leading regional asset manager, broker, and  investment bank with direct presence in Bahrain, the Kingdom of Saudi Arabia, and the United Arab Emirates, today announced the successful completion of the merger of its previously wholly owned subsidiary, SICO Funds Services Company (“SFS”), into SICO BSC (c) (The  Bank) , marking the final phase of a strategic integration initiative designed to further strengthen the Bank’s integrated operating model.

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.