Bahrain: Solidarity Bahrain pioneers Shariah-compliant Tier 1 preference share offering

Source: Middle East Insurance Review | Oct 2025

Solidarity Bahrain, a leading Islamic insurance provider, has successfully raised BHD12m ($31.8m) through the issuance of Bahrain’s first Shariah-compliant, non-voting, non-cumulative, perpetual Tier 1 capital preference shares.

The landmark transaction, offered via private placement to accredited shareholders, is aimed at strengthening the company’s Tier 1 capital and supporting its long-term growth strategy, said SICO Bank in a statement.

SICO acted as lead manager and receiving bank, structuring and executing the offering.

Solidarity Bahrain CEO Jawad Mohammed said, “This issuance reflects our commitment to innovation and our leadership in Islamic finance. It strengthens our capital foundation and supports our growth plans.” M

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