Barclays plans its regional headquarters in Riyadh. (Barclays)
A British bank whose Saudi licence was cancelled in 2014 can now arrange and advise on securities deals in the kingdom again.
Barclays Capital Saudi has met all the requirements to start the arranging and advising activities it was licensed for in October 2025, the Capital Market Authority said on Sunday.
The road back
The bank won a provisional licence a year ago. It plans its regional headquarters in Riyadh's King Abdullah Financial District and doesn't intend to offer retail banking, according to EnterpriseAM.
"Saudi Arabia is a key pillar of our growth strategy in the Middle East," group chief executive C.S. Venkatakrishnan said at the time.
Already working for PIF
Barclays has stayed close to the kingdom's biggest dealmaker throughout. It advised the Public Investment Fund on its debut euro-denominated green bond.
A crowded field
It joins Wall Street rivals already building up in Riyadh. JPMorgan, Goldman Sachs, Citigroup and BNY Mellon all hold licences for regional headquarters in the capital.
What to watch
Whether Barclays wins mandates on the next wave of Saudi share sales and bond deals, now that it can compete for them.
