Standard Chartered opens first branch in Saudi Arabia
DUBAI: The Saudi central bank has inaugurated the first branch of the Standard Chartered in the kingdom, as the government pursues ambitious economic goals with a focus on foreign investments, Arab News reported.
The inauguration comes after the bank obtained the licence to practice in the kingdom, where it has played an integral role in the financing of prominent Saudi projects.
Standard Chartered has worked with Aramco and ACWA Power, as well as directly with the government for its Sukuk transactions, the company said in a statement.
“I wish all the best for the bank to succeed and provide the desired value proposition to the sector, by providing banking services and products to micro, small and medium enterprises, and providing innovations,” Saudi central bank governor Fahad Almubarak said.
At the virtual inauguration, Standard Chartered outlined its plans to support the kingdom’s Vision 2030, which has broad objectives in the banking and financial sectors.
“Our strategy in the kingdom is centered on engaging with [the] well-established global corporates, subsidiaries and financial institutions, as well as providing services to support strategic transactions that can further contribute to the kingdom’s market,” Sunil Kaushal, regional chief of Standard Chartered, said.
Erdogan urges Armenia to mend ties with Azerbaijan
BAKU - Turkish President Recep Tayyip Erdogan on Tuesday said Armenia should mend...
Sudanese army chief says PM not arrested, but staying with him
KHARTOUM -- General Commander of the Sudanese Armed Forces Abdel Fattah Al-Burhan...
Ethiopia launches air strike on rebel 'training centre': govt
NAIROBI - Ethiopia's military on Tuesday launched another air strike in war-torn Tigray,...
Canadian PM unveils new cabinet
OTTAWA -- Canadian Prime Minister Justin Trudeau on Tuesday announced a new...
Haris Rauf stars as spirited Pakistan down New Zealand
Haris Rauf produced an outstanding spell of fast-bowling as Pakistan beat New...