Riyadh – Mubasher: The Saudi government has approved to issue a banking licence to Credit Suisse, to be the second banking licence given to an international bank in Saudi Arabia in the last five weeks, the kingdom’s finance minister said on Wednesday.
Additionally, the Saudi finance ministry will use the local currency to meet the demand on sukuk for a 30-year period, Mohammed Al Jadaan added at the Financial Sector Conference (FSC) held in Riyadh.
In July 2018, the Swiss lender submitted a request to Saudi authorities to receive a full banking licence, the bank’s CEO, Tidjane Thiam, previously said.
