Deutsche Bank Secures New Saudi License to Expand Regional Operations
DUBAI — Deutsche Bank has secured a regional headquarters license in Saudi Arabia, granting the German lender access to major government and state‑linked contracts as the Kingdom pushes multinational companies to expand their presence in Riyadh.
The new regional headquarters will be based in Riyadh and will oversee the bank’s regional management, strategic decision‑making, and corporate functions across the Middle East, Deutsche Bank said in a statement on Wednesday.
The license is part of Saudi Arabia’s Regional Headquarters Program, which encourages multinational companies to relocate their regional headquarters to Riyadh as part of Crown Prince Mohammed bin Salman’s Vision 2030 plan to diversify the Kingdom’s economy away from oil and position the capital as a leading financial hub.
Deutsche Bank joins a growing list of financial institutions that have already secured the license, including JPMorgan, Goldman Sachs, and Morgan Stanley.
The bank said the license will be its third legal entity in Saudi Arabia, joining its Riyadh branch, established in 2006 and regulated by the Saudi Central Bank, and Deutsche Securities Saudi Arabia, established in 2007 and regulated by the Capital Market Authority.
Jamal Al‑Kishi, Deutsche Bank’s chief executive for the Middle East and Africa, said the license would support the bank’s expansion targets in the region and its ability to connect Saudi and regional clients to opportunities in Europe, Asia, the Americas, and Africa. He added that the move would help attract foreign direct investment into Saudi Arabia and other regional markets.
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