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Dubai-based financial services firm Arqaam Capital has received approval from the Saudi Capital Market Authority (CMA) to begin operations in the kingdom as it looks to expand regionally.
The approval allows Arqaam Capital to provide investment banking services to its clients in Saudi Arabia and facilitate cross-border flows, the firm said on Wednesday. It will hire and develop local talent in line with Saudi Vision 2030, the firm added.
(Writing by Brinda Darasha; editing by Seban Scaria)