Banque Saudi Fransi to set up derivatives unit in Cayman Islands

29/06/2016 Argaam

Banque Saudi Fransi (BSF) has received regulatory approval to set up a wholly-owned subsidiary to handle derivatives trading and repo activities in the Cayman Islands.

 

The new entity, BSF Markets Limited, will have an authorized capital of SAR 187,500 ($50,000), the bank said in a statement to Tadawul.

 

The launch is not expected to result in any financial impact.

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