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Saudi Arabia: Market regulator unaware of investigation into Barclays undertakings in nation

By  |  November 13, 2012
Saudi Arabia: Market regulator unaware of investigation into Barclays undertakings in nation

The U.S. Department of Justice has launched an investigation into whether Barclays made improper payments to win a banking license in Saudi Arabia, according to sources, though Saudi Arabia has stated it was not aware of the investigation. Saudi Arabia granted Barclays a banking license more than three years ago for the company to operate a bank as well as a wealth-management addition to its business.

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