Wednesday 06, June 2018 by Kudakwashe

Mashreq applies for Saudi banking licence

Mashreq Bank has applied for a banking licence in Saudi Arabia as it seeks to benefit from opportunities surrounding the kingdom's economic reform plans.

  

Within the Saudi 2030 vision, Mashreq sees opportunities in consumer and corporate banking, reported Reuters. This follows moves by other foreign lenders such as Goldman Sachs and Citigroup as well as fellow UAE banks, First Abu Dhabi Bank and Emirates NBD.

Outside the UAE, Mashreq already has a presence in Egypt and Qatar.

 

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