Overview
- Barclays said it has secured a provisional license that, once fully active, will allow it to restart investment banking and global markets activities in the kingdom.
- CEO C.S. Venkatakrishnan said the bank is obtaining the necessary approvals and plans to open a good‑sized office in Riyadh’s financial district in 2026.
- Saudi Investment Minister Khaled al‑Falih said the government will recognize Barclays’ regional headquarters in a couple of days.
- The return follows Barclays’ 2014 exit and aligns with a broader shift of global banks expanding operations in Saudi Arabia.
- Fortune reported the RHQ program has attracted more than 675 regional headquarters, while reported staffing steps for Barclays include Middle East leadership promotions and a Bloomberg‑sourced claim of a local hire.