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StanChart gets Saudi Arabia license

Standard Chartered Bank has secured a license to operate as a bank in Saudi Arabia. The bank had been in talks with the Saudi regulators since 2017. A Kingdom of Saudi Arabia notification said after viewing what had been presented by His Excellency the Minister of Finance, the Cabinet has decided to approve the license for Standard Chartered Bank allowing it to open a branch in the Kingdom. The bank has claimed in its global results that its operations in Saudi Arabia had been performing well. The bank has a strong presence across emerging markets, including the Gulf. It has been operating in Saudi Arabia through Standard Chartered Capital Saudi Arabia since 2009.

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