Qatari bank handshakes with Saudi over new branch in the kingdom

The relationship between Saudi and Qatar has had its own share of up’s and down’s. At a certain point in 2014 Saudi even withdrew its ambassador from Qatar.

However, now, the Saudi Council of Ministers have granted license to the Qatar National Bank (QNB) to open a branch within the kingdom.

This would, in fact, be the first time that Saudi has issued a license to a Qatari Bank.

This announcement was made about a week after Qatar’s central bank claimed it would grant license to fellow Gulf Cooperation Council banks to open branches within the country.

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Source News: Qatar Living