Riyadh must do more to capitalize on Saudi financial transformation | Arab News:
"Saudi Arabia has some pretty big ambitions in the financial sector. The largest initial public offering (IPO) in history is progressing as Saudi Aramco gets ready for the market next year; the $200 billion privatization drive is also moving ahead under the revamped National Transformation Program. So why is Riyadh, capital of the Kingdom, not capitalizing on the unprecedented surge in financial activity underway there? In Abu Dhabi earlier this week (and simultaneously in China) the twice-annual Global Financial Centers Index (GFCI) was unveiled to an expectant audience of bankers, regulators and other professionals in the money-making world. The GFCI is increasingly viewed as an important indicator of the respective strengths of the cities that are aiming for “financial hub” status."
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