Goldman Sachs Said to Seek Saudi Stock Trade License - Bloomberg Business

Goldman Sachs Said to Seek Saudi Stock Trade License - Bloomberg Business:



"Goldman Sachs Group Inc., which advises clients on more than $1 trillion of investments, applied to own and trade Saudi Arabian stocks directly after rules were changed last month, two people with knowledge of the plan said.



The New York-based bank is seeking a qualified foreign investor permit from the Capital Markets Authority in the world’s biggest oil-exporting nation, the people said, asking not to be identified because the information isn’t public.



Goldman is considering applying for a permit, though hasn’t yet submitted an application, another person familiar with the matter said."



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