Goldman Sachs aiming at Saudi Arabian banking license
Goldman Sachs has reportedly entered preliminary talks over obtaining a banking license to operate in Saudi Arabia, in light of the country's recent economic reforms. However, reports state that no official application by the bank has yet been submitted.

Riyadh – Mubasher: Goldman Sachs Group Inc. is in preliminary talks to obtain an equities license in Saudi Arabia, to benefit from the country’s economic reforms, Bloomberg reported on Monday.

The Group hasn’t yet submitted an official request, as it hasn’t taken final decision. The bank may also decide against going ahead with the submission, the news agency quoted people.

The agency noted that the Kingdom is an attractive opportunity for international banks as it takes steps to reform its economy, including plans for the could be the largest initial public offering (IPO) ever of the Saudi oil giant “Aramco.”