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Islamic lender wins licence for Saudi operation

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Thursday, 06 November 2008
RIYAL DEAL: Kuwait Finance House has won a licence to operate in Saudi Arabia. (Getty Images - for illustrative purposes only)
RIYAL DEAL: Kuwait Finance House has won a licence to operate in Saudi Arabia. (Getty Images - for illustrative purposes only)

Islamic lender Kuwait Finance House said on Thursday its fully-owned Saudi unit has won an investment licence to operate in Saudi Arabia.

The 500 million Saudi riyal ($133.3 million) firm would be allowed underwrite, manage and offer consultancy services for securities in the Saudi market, the lender said in a statement. (Reuters)

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