The Banking Executive Magaizne - March 2025 Issue

AAIB Egypt-Based AAIB PLANS TO LAUNCH SERVICES IN SAUDI ARABIA Arab African International Bank (AAIB) plans to establish a branch in Saudi Arabia to leverage Egyptian in- vestors’ interest in the Saudi market, two sources told Asharq Business. One of the sources revealed that the bank obtained the necessary regula- tory approvals in Egypt before sub- mitting a request to grant a nod from Saudi authorities. However, the Central Bank of Egypt (CBE) did not comment on the an- nounced plans. The Kingdom’s attractive mega-pro- jects motivated AAIB to launch busi- ness in Saudi Arabia, as these busi- nesses require significant financing. The National Bank of Egypt (NBE) and Banque Misr already have branches in the Saudi capital, Riyadh. ISSUE 195 MARCH 2025 the BANKING EXECUTIVE 29