StanChart gets approval to open unit in Saudi Arabia

Pedro Gonçalves
clock • 2 min read

Standard Chartered has received a licence to launch banking operations in Saudi Arabia, one of the global bank's strongest markets. "The council of ministers' approval this Wednesday of the Standard Chartered Bank to operate in the kingdom confirms the kingdom's position on the international map and reflects the strength of the growing Saudi economy," said a statement carried by the Saudi Press Agency. No details about the services the lender will offer in the country were provided. The 150-year-old lender has been operating in the kingdom through Standard Chartered Capital Saudi Arab...

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