Underestimated

After Credit Suisse opened a branch in the Dubai International Financial Center (DIFC) in Dubai without obtaining a full banking licence as others didn't, the swiss bank - still to restructure -intends to enter arabian markets in Saudi Arabia with private banking and lombard loans to trade in local currency. Other global players like HSBC are already there. The saudi branch might open huge possibilities regarding a future wealth fund. Until now arabian states control the western financial institutions on their territory by law. The wealth of arabian countries might allow them to do so in the future. Institutes like Credit Suisse could be obliged to offer again more islamic banking, therefore. 

Credit Suisse private banking, Dubai, source: Credit Suisse