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Saudi Arabia central bank Governor Ahmed Alkholifey said a cash crunch that squeezed commercial lenders last year is over and that he's open to more foreign financial institutions operating in the biggest Arab economy.SAMA, as the central bank is known, has injected billions of riyals into the banking system and introduced more repurchase agreements.The Tadawul Bank Index rose 1.4 percent Thursday, with Saudi Investment Bank rising 3.4 percent to 14.58 riyals and Saudi British Bank up 3.3 percent, the most since Nov. 13, to 21.8 riyals.The governor said the central bank is reviewing one licensing application from a regional lender and is open to requests from other foreign banks.The central bank recently approved a request by Bank of Tokyo-Mitsubishi to operate in the kingdom.
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