News

Credit Suisse seeks Saudi banking licence

Credit_Suisse_buildingCredit Suisse has stepped up its plans to expand in the Middle East by sending its chief executive to apply in person for a full banking licence from Saudi Arabia’s financial regulator. “I have been to Riyadh, I met the head of the Saudi Arabian Monetary Authority (SAMA), I made the application myself,” said Tidjane Thiam as reported by Reuters. The bank has been growing its presence in Saudi Arabia and the UAE with the appointment of more bankers in its investment banking and wealth management divisions. A number of other international banks and fund managers have sought to capitalise on Saudi Arabia’s efforts to liberalise its economy and enlarge its financial services industry. Citi was awarded a banking license by SAMA in April while Goldman Sachs was licensed to trade equities in Saudi Arabia in August 2017. Thiam denied that his bank’s Middle Eastern expansion plans had been delayed because of its links to the Qatar Investment Authority, which holds a 4% stake in the bank. Qatar has been subject to an economic and political blockade other GCC states since June 2017. ©2018 funds global mena

Executive Interviews

INTERVIEW: ‘Financing is the blood of Iran’s economy’

Amid a fresh wave of American sanctions, Romil Patel spoke to Meysam Hamedi, director of financial markets and instruments at Iran’s Securities & Exchange Organization (SEO).

INTERVIEW: Totally mega

In 2016, global consulting firm PWC forecast the emergence of five global ‘megatrends’ in the next two decades. Stephen Anderson, its Middle East clients and markets leader, talks about their...

INTERVIEW: Protecting the investment

Rasmala’s trade finance fund recently passed $100 million in assets. Doug Bitcon, head of credit strategies, explains why he has to be hands-on.

EXECUTIVE INTERVIEW: A natural interest in the topic

Since 2016, Guillermo Ortiz has been a chairman of Latin America’s BTG Pactual. The former central banker of Mexico talks to Nick Fitzpatrick.

Roundtables

Middle East Investor Roundtable 2020: Dimensions of diversification

Investors in the Middle East consider the tools that will be needed to navigate the Covid-19 crisis, the continued appetite for dividend and why it’s all about tech. Chaired by Romil Patel.

South Africa asset management roundtable: Global rebound on ice

Experts discuss the investment implications of the coronavirus pandemic, a delayed rebound in global growth and dealing with South Africa’s energy issues head on. Chaired by Romil Patel in Cape Town.

South African roundtable: Taking the bull by the horns

Our panel discusses Chinese investment in Africa, financial institutions’ contribution to economic sustainability and regulatory concerns. Chaired by Romil Patel in Cape Town.

ROUNDTABLE: Hooked to the global caravan

With the MENA region at a tipping point, our panellists talk about economic diversification, the impact of regulation and the delayed Saudi Aramco listing. Chaired by Romil Patel in Dubai.