Business & Investment
Barclays Capital Saudi and State Street Saudi Arabia Cleared to Start CMA-Licensed Activities
Announced · Published · By Sokrab Saudi Arabia
The CMA confirmed in October and November 2026 that Barclays Capital Saudi and State Street Saudi Arabia Financial Solution Company completed commencement requirements and can begin their licensed securities activities.
What was announced
Two international financial groups moved a step closer to full operation in the Kingdom. On 1 November 2026 the Capital Market Authority (CMA) announced that Barclays Capital Saudi had completed the commencement of business requirements for arranging and advising activities in the securities business. On 21 October 2026 the CMA made a similar announcement for State Street Saudi Arabia Financial Solution Company, covering managing investments and operating funds.
Key details
- Barclays Capital Saudi: licensed for arranging and advising. The CMA notes that the licensing resolution was dated 26 October 2025; the November 2026 announcement confirms that start-up requirements are now complete.
- State Street Saudi Arabia Financial Solution Company: licensed for managing investments and operating funds, under a CMA approval dated 16 June 2026; the October 2026 announcement confirms commencement requirements have been met.
- Legal basis: both decisions rely on the Capital Market Law (Royal Decree No. M/30) and its implementing regulations.
In capital market licensing, the commencement stage is distinct from the initial licence. A firm is authorised first, then has to meet the CMA's operational requirements before it can start the licensed activity. These announcements mark that second step.
Why it matters for businesses
New entrants increase choice for Saudi companies and investors. Arranging and advising capacity from a global investment bank can be relevant to companies considering capital raising, debt issuance or strategic transactions, while additional asset management capacity broadens options for institutional investors. The announcements sit alongside other licences issued by the CMA in the same period, including to local advisory and investment management firms, and reflect continued interest from international institutions in establishing regulated operations in the Kingdom.
What to watch next
- Further commencement announcements for firms licensed earlier in 2026.
- How new entrants position themselves in the IPO, debt and asset management markets, especially after the CMA's new IPO provisions of 2 November 2026.
What businesses may want to do
Companies planning transactions or reviewing investment mandates may wish to check the CMA's register of authorised persons to confirm a provider's licensed activities before engaging them. Foreign groups weighing their own Saudi entry can view these announcements as an example of the licence-then-commence sequence. This summary is not legal or investment advice.
Sources
- Capital Market Authority: Barclays Capital Saudi completes commencement of business requirements
- Capital Market Authority: State Street Saudi Arabia Financial Solution Company completes commencement of business requirements
How Sokrab can help
Questions about how this affects your business? Contact Sokrab Saudi Arabia or book a meeting.
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