Riyadh – Mubasher: The Saudi Arabian Monetary Authority (SAMA) has received requests from international banks to commence business in the kingdom over the coming period, governor Ahmed Al-Kholifey on Thursday reported.
The Saudi Council of Ministers’ approval for Standard Chartered Bank’s new headquarters in the kingdom will encourage other lenders to enter the Saudi market, Al Arabiya TV reported, citing Al-Kholifey.
The move is to contribute to developing the financial sector as part of Saudi Vision 2030, the top official added.
Over the previous three year, the kingdom awarded licences for three foreign lenders, along with another licence to Gulf International Bank (GIB).
