VOL. XXXV

NO. 15

13-JANUARY-1992

Financial and Banking News

Regional Banking

Religious Authorities in Saudi Arabia Condemn Use of Interest: TantawiSeeks Middle Way in Egypt

Saudi bankers are shrugging off recent statements by Shaikh 'Abd al-'Aziz ibn'Abd Allah Bin Baz, the highest religious authority in Saudi Arabia, advisingMuslims to have nothing to do with institutions whose accounts are based oninterest. The teachings of Islam, and the Quran itself, condemn the paying orreceiving of "riba,"...