SICO BSC (c), a leading regional asset manager, broker, market maker, and investment bank (licensed as a wholesale bank by the CBB) has signed a contract with Beyon Cyber for managed cyber security services.
This partnership is a multi-year contract signed for managing cyber security services delivered by Beyon Cyber. The signing-off agreement took place between SICO CEO Najla Al Shirawi and Beyon Cyber’s CEO, Dr. Shaikh Khalid bin Duaij Al Khalifa.
This agreement also marks enhancing the cyber security maturity of SICO’s IT Infrastructure to accelerate its digital transformation journey further.
Industry sources added that the banking and finance sector in Bahrain has been transforming digitally via the application of emerging technologies. As an outcome, the sector has become surging vulnerable to cyberattacks, escalating the significance of securing the enterprise against surging cyber threats and losses.
Commenting on the partnership, SICO’s CEO Najla Al Shirawi stated, “We are pleased to partner with a distinguished national company providing sophisticated and much needed cyber security solutions enabling us to manage and mitigate business risk.”
SICO’s Head of Information Technology Mohammed Ibrahim added, “We look forward to benefiting from Beyon Cyber’s managed cyber security services to strengthen the bank’s IT Infrastructure and cyber architecture protecting our digital transformation solutions against external cyber threats.”
He also added: “The rapid growth of digitization in recent years has led to increased opportunities for potential cyber-attacks and that is the reason we are working side by side on the cyber security enhancements as well as the digitalization strategy ensuring the strongest cyber security measures are in place. We are very confident that Beyon Cyber will provide the expertise and solutions we need to achieve our cyber security plans & targets.”
Beyon Cyber’s CEO, Dr. Shaikh Khalid bin Duaij Al Khalifa commented, “We are delighted to have been selected as the security services provider for SICO, as it enables us to support their exciting innovation strategy towards digital transformation. We believe that a strong digital strategy needs to be built on secure foundations with embedded principles of security by design. This partnership allows us to bring our years of experience in cyber threat monitoring and response to SICO to help protect them against advanced cyber threats.”
Dr. Khalid added, “The contract with SICO falls under Beyon Cyber’s strategic plans to offer world-class and affordable cyber security services to financial institutions across the country in compliance with the Central Bank of Bahrain (CBB) guidelines.”
