3 AUGUST 1992
Financial and Banking News
Religious Sentiment May Delay Saudi Bank Share Offerings
Objections from religious fundamentalists are delaying plans by Saudicommercial banks to proceed with public share flotations, sources in the Kingdomsay. Some religious groups are opposed to the commercial banks in principlebecause they use interest as the basis of their operations. Late last year,Saudi Arabia's highest religious authority, Shaikh 'Abd al-'Aziz ibn...