Saudi Arabia will not penalise foreign lenders that boycotted the Future Investment Initiative (FII) currently underway in Riyadh because of the fallout from the killing of Saudi journalist Jamal Khashoggi.
More than a dozen foreign banks that have licences to operate branches in Saudi Arabia cancelled plans to be part of this year’s FII forum. Some Western banks and other companies, fearful of losing business such as fees from arranging deals for Saudi Arabia’s $250 billion wealth fund sent lower-level executives to the event even as their top people stayed away.
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Speaking in an interview with Al Arabiya TV, Ahmed al-Kholifey, said that SAMA deals in complete professional manner whether with local or international banks.
