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In 1985, the al-Rajhi Banking and Investment Company was authorized to engage in interest-free banking, but on the condition that it did not use the word "Islamic" in its name. [2] Saudi Arabia does not officially recognize the concept of Islamic banking. The logic is that if one bank is recognized as an Islamic institution then all others, by ...
Mecca ( / ˈmɛkə /; officially Makkah al-Mukarramah, [ a] commonly shortened to Makkah[ b]) is the capital of Mecca Province in the Hejaz region of western Saudi Arabia and the holiest city according to Islam. [ 4] It is 70 km (43 mi) inland from Jeddah on the Red Sea, in a narrow valley 277 m (909 ft) above sea level.
Security Forces Hospital - Riyadh [8] Al Iman General Hospital - Riyadh. Al Yamama Hospital - Riyadh. Dallah Hospital - Riyadh [9] Green Crescent Hospital - Riyadh [10] Specialized Medical Center Hospital - Riyadh [11] Saudi German Hospital - Riyadh [12] Dr. Sulaiman Al-Habib Medical Complex in Olaya - Riyadh.
In Sunni Islam, all sites which have been mentioned in the Hadith are holy to Sunni Muslims. The Kaaba is the holiest site, followed by the al-Masjid an-Nabawi ( The Prophet's Mosque ), al-Aqsa Mosque compound, and other sites mentioned in the Hadith, as well Umayyad Mosque, Ibrahimi Mosque.
There are 11 local licensed banks in Saudi Arabia: [2] Bank name (English) Bank name (Arabic) Headquarters. Founded. Stock code [3] Saudi National Bank (SNB) البنك الأهلي السعودي. Riyadh.
Islamic banking, Islamic finance ( Arabic: مصرفية إسلامية masrifiyya 'islamia ), or Sharia-compliant finance [1] is banking or financing activity that complies with Sharia (Islamic law) and its practical application through the development of Islamic economics. Some of the modes of Islamic finance include mudarabah (profit-sharing ...
Article one of the 1992 Saudi "Basic Law of Governance" states, The Kingdom of Saudi Arabia is a sovereign Arab Islamic State. Its religion is Islam. Its constitution is Almighty God's Book, The Holy Qur'an, and the Sunna (Traditions) of the Prophet (PBUH). Arabic is the language of the Kingdom.
List of banks in Saudi Arabia. Saudi National Bank. Categories: Banks of Saudi Arabia. Islamic banks by country.