Riyadh – Mubasher: Japan’s SoftBank is requiring the approval of the governments of Saudi Arabia and the UAE for more than $3 billion investments.

The bank’s CEO Masayoshi Son told CNBC on Friday that these investments required the consent of Saudi Arabia’s Public Investment Fund (PIF) and Abu Dhabi's Mubadala Investment Company.

“Our return on the investment is very, very good…our company's value is growing very quickly after our investment,” the top official added.

Earlier in March, the bank launched a $5 billion fund to support tech start-ups across Latin American countries.