Muscat: The Saudi Arabian Central Bank has granted Sohar International a license to open a full-fledged branch in the Kingdom.
"Sohar International received a license from the Saudi Central Bank (SAMA) for the opening of a full-fledged branch of Sohar International in the Kingdom of Saudi Arabia to conduct banking business, in line with the regulatory requirements in the Kingdom," a statement filed to Muscat Stock Exchange said.
Recently, the Saudi Arabian cabinet approved the license for Sohar International Bank to open a branch and conduct banking business in the Kingdom The cabinet authorized the Minister of Finance to decide on any subsequent request to open other branches of the bank in the Kingdom, a statement from the Saudi Press Agency said.
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