The agreement focuses on supporting AAAID’s objectives within the Arab and Gulf Cooperation Council countries, with particular emphasis on Bahrain and Saudi Arabia. This collaboration entails joint efforts on projects for AAAID, facilitating investments through equity and debt financing opportunities, and engaging in business development activities. SICO’s wholly-owned subsidiary, SICO Capital, will provide the agreed-upon services in Saudi Arabia.
AAAID, an Arab financial institution with an independent international legal personality, comprises 21 member states and has an authorized capital of approximately USD 1.1 billion. The authority contributes to the capital of over 50 companies operating across 12 Arab countries, focusing on agricultural services, investment, and related sectors. AAAID aims to support agricultural development and contribute to achieving sustainable development goals in Arab countries.
SICO BSC operates under a wholesale banking licence from the Central Bank of Bahrain and has a direct presence in Bahrain, Saudi Arabia, and the UAE. The firm manages over USD 6.2 billion in assets and offers a range of services, including asset management, brokerage, and investment banking. SICO Capital, its subsidiary in Saudi Arabia, is a full-service financial services firm based in Riyadh, offering comprehensive services and products to individual, institutional, and corporate clients.
The partnership between SICO and AAAID is expected to leverage SICO’s financial expertise and AAAID’s focus on agricultural development to attract investments aimed at enhancing food security and sustainable agriculture in the region. By combining resources and expertise, the two entities plan to identify and develop investment opportunities that align with their shared goals of promoting agricultural growth and sustainability.
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