According to CNBC Arabia, the Saudi Ministry of Finance said today, Sunday, that it has signed an agreement allowing foreign banks to join the principal dealers permitted to deal in government debt instruments.
According to the channel, which was cited by Bloomberg News Agency, the banks are “BNP Paribas,” “Citigroup,” “Goldman Sachs,” “Standard Chartered,” and “JP Morgan.”
The agreement, according to the government, intends to broaden the pool of investors and promote the growth of the secondary market.
According to the ministry, these foreign banks would join five other local banks in performing this function.
Saudi Arabia signs agreements to transact in government debt securities with five foreign banks.
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