Goldman Sachs Saudi Arabia bags Tadawul license

The Saudi Stock Exchange (Tadawul) has granted Goldman Sachs Saudi Arabia a license to conduct brokerage services, and deal as a principal and an agent.

The brokerage firm has completed all regulatory and technical requirements to secure the license, the Saudi bourse said in a statement.

The Kingdom’s Capital Market Authority (CMA) approved Goldman Sachs Saudi Arabia’s request in August last year to amend its business profile by adding new activities, including dealing as principal, an agent, an underwriter, managing investment funds, discretionary portfolio management, arranging, advising, and custody activities.