Saudi Arabia grants license to Bank of China

Saudi Arabia grants license to Bank of China

JEDDAH (Rahnuma): The Saudi Cabinet on Tuesday approved the granting of a license to Bank of China to operate in the Kingdom and authorized the finance minister to decide on any request to open more branches.

King Salman chaired the weekly Cabinet session at Al-Yamamah Palace in Riyadh during which the Ministry of Culture was also authorized to supervise the National Museum at King Abdul Aziz Historical Center. The culture minister was authorized to form the museum’s board of trustees.

In a statement issued to the Saudi Press Agency, Media Minister Turki Al-Shabanah said that the Cabinet reviewed the latest regional and international developments. The ministers reiterated Saudi Arabia’s call to work for regional security and peace.

The Cabinet discussed the situation in Iraq and called on the international community to take the necessary measures to de-escalate the situation in the greater interest of the region.

The ministers condemned Turkish interference and military escalation in Libya. They said that the Turkish action violated international principles and covenants but it was also against the position adopted by the Arab League in December 2019.

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