Saudi Arabia’s cabinet has approved issuing a license to First Abu Dhabi Bank to open three branches in Saudi Arabia, Saudi Press Agency reported.
The cabinet has authorized the minister of finance to decide on upcoming requests from the bank to open more branches.
Twelve foreign lenders are opening offices in Saudi Arabia including, Gulf International Bank, Emirates NBD, BNP Paribas, National Bank of Kuwait (NBK), Deutsche Bank, Muscat Bank, National Bank of Bahrain, JPMorgan Chase & Co., National Bank of Pakistan, Ziraat Bank, State Bank of India, and Industrial and Commercial Bank of China.
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