The Saudi Arabian Monetary Authority (SAMA) is studying requests for banking licenses from no more than four banks, including local lenders, Al-Eqtisadiah newspaper reported, citing Ahmed Al-Kholifey, SAMA’s governor.
A request from a digital bank is still under study, he said, pointing that digital banks are globally new and needs more review.
According to data compiled by Argaam, the first branch of government-owned Trade Bank of Iraq (TBI) opened in Riyadh on Thursday.
The total of 14 foreign banks have branches in Saudi Arabia, including Gulf International Bank, Emirates NBD, BNP Paribas, National Bank of Kuwait, Deutsche Bank, BankMuscat, National Bank of Bahrain, JPMorgan Chase, Bank of Tokyo-Mitsubishi UFJ, Qatar National Bank, National Bank of Pakistan, Turkey’s Ziraat Bankası, Industrial and Commercial Bank of China, and First Abu Dhabi Bank.
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