Barclays Returns to Saudi Market with Provisional CMA Licence, Sets Riyadh Launch for 2026

Post by : Bianca Suleiman

Barclays PLC has taken a decisive step toward re-establishing its presence in Saudi Arabia after more than a decade, obtaining a provisional licence from the Kingdom’s Capital Market Authority to operate investment banking and global markets activities.

The bank has reserved office space within the King Abdullah Financial District (KAFD) and intends to open a fully operational Riyadh office by 2026. This expansion dovetails with Saudi Arabia’s Vision 2030 ambitions to deepen the country’s role as a regional and international investment centre.

Leadership and Local Direction

Mohammed Al-Sarhan has been appointed Independent Non-Executive Chairman of Barclays Saudi Arabia. Al-Sarhan brings extensive leadership experience from organisations including Al Safi Danone, Al Faisaliah Group, IKEA and Bahri, and will guide the board alongside regional co-CEOs Khaled El Dabag and Walid Mezher as they establish local governance and strategy.

Al-Sarhan said he is “truly excited to join Barclays at this pivotal moment” and stressed his commitment to supporting the bank’s development in the Kingdom.

Strengthening Saudi Presence

Earlier this year Barclays secured a Regional Headquarters (RHQ) licence, creating a formal base for its Middle East operations. Once the Riyadh office is open, it will engage directly with large corporates, institutional investors and sovereign wealth funds, providing enhanced access to Barclays’ global platform.

The expansion will allow Barclays to introduce a broader array of products and services to Saudi clients, facilitating cross-border investment and financing as the country advances its economic transformation.

Strategic Regional Growth

Barclays’ renewed focus on Saudi Arabia is part of a wider Middle East growth strategy in which corporate, institutional and private wealth services remain central. The move signals confidence in the Kingdom’s market liberalisation and strengthens the bank’s position to support major transactions across the region.