Foreign investment in banking is subject to reciprocity.
"Article 14: "Before starting business, covered entities must obtain a license from the supervisory authority. Before issuing a license, the supervisory authority shall ensure : […] The supervisory authority shall be aware of the reciprocity offered by other countries when the shareholders of a locally incorporated bank or the head offices of branches of foreign banks are from said countries."   (Law on banking and Financial Institutions, Royal Decree No. NS/RKM/1199/13 of 19 October 1999, Art. 14)
Law on banking and Financial Institutions, Royal Decree No. NS/RKM/1199/13 of 19 October 1999, Art. 14.
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