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Wed 11 Apr 2007 09:59 AM

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Shuaa Capital gets Saudi banking licence

The Dubai-based company has said it has approval to provide banking services in Saudi Arabia.

Dubai-based Shuaa Capital said on Tuesday it had got approval to provide banking services in Saudi Arabia.

"Shuaa Capital has got a license from the Saudi Market Authority to provide comprehensive banking services in the kingdom through its Shuaa Capital Saudi Arabia unit," said a company statement posted on the Kuwait bourse website.

Shuaa said it owns 60% of the Saudi unit.

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