Dubai's Mashreqbank PSC is seeking a banking license in Saudi Arabia in a bid to capitalize on the opportunities from economic reforms in the kingdom, sources familiar with the matter told Reuters.
The bank did not confirm the application but said it is exploring the Saudi market, according to the June 5 report. The sources reportedly said Mashreq sees opportunities in consumer and corporate banking, renewable energy, healthcare and education.
Saudi Arabia's central bank did not respond for comment, the report noted.
