Financial and Banking News


Abu Dhabi Takes Step Towards Legalizing Interest

Commercial banks in Abu Dhabi have recently received the firmest indication yet that the Abu Dhabi Government wants to establish the legality of paying and receiving interest in the Emirate, with the revelation that on 9 April the Chamberlain of the Presidential Court, Shaikh Surur ibn Muhammad, sent a letter to the President of Abu Dhabi's Sharita Court, Shaikh Ahmad 'Abd al-'Aziz...