Saudi Arabia’s cabinet approved on Tuesday the license for the National Bank of Egypt (NBE) to open a branch in the kingdom, Saudi state news agency SPA reported.
The cabinet also agreed to authorize the Minister of Finance to decide on any subsequent request to open other branches of the bank in the Kingdom.
Last April, it approved granting Banque Misr, one of the largest Egyptian banks, a license to open a branch of the bank in the Kingdom of Saudi Arabia.
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