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Citigroup Receives Investment Banking License in Saudi Arabia

Thirteen years after selling its remaining stake in Saudi American Bank, Citibank is to have a physical presence in Saudi Arabia through an investment banking license, granted by the Capital Market Authority.

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Correspondent Banking Opportunities for Big GCC Banks

Regional banks in the GCC have the opportunity to offer correspondent banking services to smaller local banks in the Middle East, replacing the large international banks who have been withdrawing from the correspondent banking market. James Daniell, a managing director in Alvarez & Marsal's Dubai office, explains how his firm is helping regional banks develop the capabilty to offer these services. 

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