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Report: First Abu Dhabi Bank gets Saudi securities license

Saudi Arabia's Capital Market Authority authorized First Abu Dhabi Investment Saudi Co. to conduct arranging and advising activities in the securities business.

The license applies to First Abu Dhabi Bank PJSC, Reuters reported Feb. 5, citing a "source close to the matter."

The bank, which has no branch or representative office in Saudi Arabia, said in the week of Jan. 29 that it was working on expanding its operations in the country, the news agency noted.