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FinancialNews
03-06-17
Goldman Sachs applies to Saudi's trading license
(MENAFN) As the latest step by Western banks to expand operations in Saudi Arabia, Goldman Sachs has applied to the country's capital markets regulator for a license to trade equities in the kingdom.
According to sources familiar with the matter, they made the application to the Capital Market Authority (CMA) and a successful outcome could lead to a further expansion of its business in the kingdom.
Since 2009, Goldman was operating in the kingdom as an agent and underwriter, and in 2014, he Saudi Capital Market Authority approved a change in the bank's profile and it has been authorized to arrange, advise and manage investment funds and portfolios.
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