SICO and MENA Industrial Bank sign MoU to explore cooperation across investment and banking services

Detailed summary

SICO BSC (c), a leading regional asset manager, broker, and investment bank with direct presence in Bahrain, Saudi Arabia, and the UAE, has signed a Memorandum of Understanding…

SICO BSC (c), a leading regional asset manager, broker, and investment bank with direct presence in Bahrain, Saudi Arabia, and the UAE, has signed a Memorandum of Understanding (MoU) with

MENA Industrial Bank B.S.C. (c) (“MIB”), a conventional wholesale bank licensed by the Central Bank of Bahrain, to explore potential cooperation across a range of investment and banking services, with a view to strengthening its regional presence and expanding strategic partnerships across the region.

The MoU, signed on 11th November 2026, sets out a framework for reciprocal and cooperation between the two banks. Under this framework, SICO and MIB intend to work together through direct dealings with one another, the introduction of clients, and the distribution of each other’s products, subject to definitive agreements and the applicable regulatory requirements.

The areas identified for cooperation draw on the complementary capabilities of both institutions. SICO’s offering spans custody and securities services, asset management, brokerage, and capital markets advisory, while MIB brings interbank and treasury solutions, fund financing, and lending to clients against portfolios held in custody with SICO. The MoU also envisions the referral of MIB’s corporate clients to SICO for capital markets and advisory services, as well as the distribution of SICO funds to MIB’s clients.

“Our cooperation with SICO reflects MIB’s focus on building strong relationships within Bahrain’s financial sector. Access to SICO’s investment and capital markets capabilities will allow us to offer our corporate and institutional clients a broader range of solutions, while our banking and treasury services complement SICO’s offering,” said Shamzani Hussain, Chief Executive Officer of MIB.

“This MoU with MENA Industrial Bank reflects our commitment to building strategic partnerships that leverage complementary expertise and services.

SICO is a leading regional asset manager, broker, and investment bank with USD 9.2…

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