Swiss perspectives in 10 languages

Saudi finance minister greenlights Credit Suisse bank licence

credit suisse sign
Last year, the bank posted its first annual profit in four years. Keystone

Switzerland’s banking giant Credit Suisse will obtain its long-coveted banking license in Saudi Arabia.

According to Swiss news agency AWP, the Saudi Minister of Finance said on Wednesday that the relevant license would be issued to the major bank. The news agency report did not state when.

The bank had already been applying for a full banking license in the largest economy in the Middle East for some time. Its top executive Tidjane Thiam said he had travelled to the country personally.

Thiam had cancelled his participation in a Saudi investor conference last autumn – as had some other economic leaders – due to the uproar sparked by the killing of Saudi journalist Jamal Khasshogi in the Arab nation’s consulate in Istanbul, Turkey.

Popular Stories

Most Discussed

News

No Swiss bank in phase with environmental objectives

More

Swiss banks failing environment, says WWF

This content was published on None of the 15 major Swiss retail banks is meeting international climate and biodiversity targets, according to a ranking by WWF Switzerland.

Read more: Swiss banks failing environment, says WWF
UNRWA provides emergency assistance to just over one million Palestine refugees, or about 75 per cent of all Palestine refugees in Gaza, who lack the financial means to cover their basic food.

More

Lazzarini: no alternative to UNRWA in Gaza

This content was published on The only alternative to the UN Palestinian agency’s work in Gaza is to allow Israel to run services there, Philippe Lazzarini, UNRWA Commissioner-General, told reporters in Geneva on Monday.

Read more: Lazzarini: no alternative to UNRWA in Gaza

In compliance with the JTI standards

More: SWI swissinfo.ch certified by the Journalism Trust Initiative

You can find an overview of ongoing debates with our journalists here . Please join us!

If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.

SWI swissinfo.ch - a branch of Swiss Broadcasting Corporation SRG SSR

SWI swissinfo.ch - a branch of Swiss Broadcasting Corporation SRG SSR