BNP Paribas has received investment registration for a regional headquarters in Saudi Arabia, marking another step in the French banking group’s expansion in the Kingdom and the wider Middle East.
The registration provides BNP Paribas with a base from which to expand its operations across Saudi Arabia and regional markets. However, the registration does not confirm that the headquarters is already operational. No opening date, location or investment value has been disclosed.
The development was announced following a meeting in Paris between Saudi Arabia’s Minister of Investment, Fahad Al-Saif, and BNP Paribas Group Chairman Jean Lemierre.
According to Saudi state news agency SPA, the two officials discussed investment opportunities in the financial sector, deeper cooperation and support for BNP Paribas’ expansion in Saudi Arabia and the wider region.
BNP Paribas is the latest international financial institution to receive registration under Saudi Arabia’s Regional Headquarters Program, launched in 2021 as part of the Kingdom’s efforts to attract multinational companies and strengthen Riyadh’s position as a leading regional business and financial hub.
More than 750 companies have joined the programme, surpassing the government’s initial target of attracting 500 companies by 2030.
Saudi Arabia has increasingly encouraged multinational companies to establish their regional headquarters in Riyadh, with companies without a local regional headquarters facing restrictions on access to certain government contracts.
BNP Paribas already has a presence across the Middle East, including offices in Saudi Arabia, the United Arab Emirates, Qatar, Kuwait and Bahrain.
The bank’s regional headquarters registration comes as Saudi Arabia continues to deepen its financial-sector development under Vision 2030 and attract global financial institutions and multinational companies to the Kingdom.
The growing participation of international companies in the Regional Headquarters Program reflects continued interest in Saudi Arabia’s economy and investment environment and supports the Kingdom’s ambitions to become a major regional business and financial centre.
