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Barclays to launch Saudi private banking arm
- Saudi Arabia: Tuesday, September 15 - 2009 at 09:32
Barclays Bank plans to set up a private banking operation in Saudi Arabia to tap the market for wealthy individuals in the kingdom, Reuters has reported. Saudi Arabia is 'massive in terms of percentage of GDP of the Middle East, massive in terms of number of wealthy individuals, you absolutely have to be a player there if your aspirations are to be top of the league', according to Soha Nashaat, chief executive for Barclays private banking arm in the Middle East and North Africa. 'People are now more concerned on missing out on the market rebound than they are about the downside risk,' she added.
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StaffTuesday, September 15 - 2009 at 09:32 UAE local time (GMT+4)
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