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The governor of the Arab Monetary Agency Ahmed bin Abdul Karim Al-Khulaifi confirmed that Cabinet approves standard approval of chartered banks In record time to encourage the development of the financial sector, adding to the number of banks operating in the kingdom of 27 banks.
This decision came after the Board approved Tuesday the opening of a branch of said bank and the authorization of the Minister of Finance to decide any subsequent application to open. other branches of the bank in the Kingdom.
Al-Khulaifi pointed out that "in the past three years, the Kingdom has authorized three foreign bank branches as well as one of the new banks, Gulf International Bank, adding," We currently have a number of requests, with the exception of the Council of Ministers.
He pointed out that these requests were examined from the technical point of view, their addition to the sector and their integration into the local economy, hoping that the new bank, in addition to the local banks, would strengthen the sector to serve customers and create more jobs.
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