Barclays made no 'illegal payments' for Saudi licence
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Barclays made no 'illegal payments' for Saudi licence

Barclays made no 'illegal payments' for Saudi licence

Barclays Plc has denied making any "illegal payment" to win a banking license in Saudi Arabia, Reuters has reported. The denial was in response to a newspaper report last week that said US authorities were looking at whether improper payments were made. "The board of directors of Barclays Saudi Arabia and its executive management takes the issue raised by the media very seriously," the bank said yesterday. "Barclays Saudi Arabia confirms that it did not make any illegal payment to the Capital Markets Authority (CMA) or any of its officials regarding the granting of Saudi licence."

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