Middle East Economic Survey

VOL. XLVII

No 23

07-June-2004

SAUDI ARABIA

REGIONAL BANKING

Saudi Arabia To Allow Three Foreign Banks To Operate In The Kingdom

Saudi Arabia is planning to allow three foreign banks BNP Paribas, Deutsche Bank and JP Morgan Chase to start operating in the kingdom, according to a report from the Saudi Press Agency (SPA). The banks will be able to open branches in the country provided that they comply with banking and foreign and other regulations in the kingdom, said the...