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.
Mattel Revives Masters of the Universe Action Figures Ahead of Film Launch
Mattel is reintroducing Masters of the Universe figures in line with its upcoming film, tapping into
China Executes 11 Members of Criminal Clan Linked to Myanmar Scam
China has executed 11 criminals associated with the Ming family, known for major scams and human tra
US Issues Alarm to Iran as Military Forces Deploy in Gulf Region
With a significant military presence in the Gulf, Trump urges Iran to negotiate a nuclear deal or fa
Copper Prices Reach Unprecedented Highs Amid Geopolitical Turmoil
Copper prices soar to all-time highs as geopolitical tensions and a weakening dollar boost investor
New Zealand Secures First Win Against India, Triumph by 50 Runs
New Zealand won the 4th T20I against India by 50 runs in Vizag. Despite Dube's impressive 65, India
