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The Cabinet approved a license granted to Standard Chartered Bank to open a branch in the Kingdom.
According to the Saudi News Agency, the Minister of Finance has been allowed to decide any subsequent application to open other branches in the Kingdom. The Bank will comply with the regulations in force in the Kingdom. The Saudi monetary agency will coordinate to carry out the regulatory procedures. Necessary
According to the data available "Numbers", 14 foreign banks currently operate in Saudi Arabia through the local branches of Gulf International Bank, Emirates NBD, BNP Paribas, National Bank of Kuwait, Deutsche Bank, Muscat Bank, Bahrain Bank, JPMorgan Chase, National Bank of Pakistan, Turkish Agricultural Bank, Industrial and Commercial Bank of China, National Bank of Qatar, First Abu Bank and Tokyo Bank of Mitsubishi UFJ.
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