Riyadh – The Saudi Arabian Monetary Authority (SAMA) considers granting licences to two Saudi banks in the current period, SAMA’s governor Ahmed Al Khulaifi told Al Arabiya.

SAMA also plans to give licences to foreign lenders, Al Khulaifi said.

All regulations and conditions required for licensing new banks can be found on the website of SAMA, he added.

SAMA does not oppose mergers as long as they serve the banking sector, he noted.

Al Khulaifi affirmed that Saudi Arabia’s financial system complies with the Financial Action Task Force’s (FATF) guidelines.

On 21 June, Saudi Arabia has become the first Arab country to obtain full membership of FATF.

Source: Mubasher

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