Saudi finance minister greenlights Credit Suisse bank licence
Switzerland’s banking giant Credit Suisse will obtain its long-coveted banking license in Saudi Arabia.
According to Swiss news agency AWP, the Saudi Minister of Finance said on Wednesday that the relevant license would be issued to the major bank. The news agency report did not state when.
The bank had already been applying for a full banking license in the largest economy in the Middle East for some time. Its top executive Tidjane Thiam said he had travelled to the country personally.
Thiam had cancelled his participation in a Saudi investor conference last autumn – as had some other economic leaders – due to the uproar sparked by the killing of Saudi journalist Jamal Khasshogi in the Arab nation’s consulate in Istanbul, Turkey.
In compliance with the JTI standards
More: SWI swissinfo.ch certified by the Journalism Trust Initiative
You can find an overview of ongoing debates with our journalists here. Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.