Word: saud
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Dates: during 1990-1999
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Saudi Arabian Prince Amr Bin Mohamed Al Faisal Al Saud described the investment process: "We go through a primary specification before we enter anything where-by we ask the question, 'Is this permissible or not?' If it is permissible, then we go through the assessment that any bank would...
...Saud, whose billionaire family owns a number of Middle Eastern banks, said that in Islamic finance, man must submit to the divine...
...incident is another in a series of embarrassments for a Saudi government that has increasingly staked its legitimacy on its role as the guardian of the Holy Places. "King Fahd now carries the title 'Custodian of the Two Holy Mosques,' an important element of legitimacy, given that the Saud family were basically conquerors of the tribes of the Arabian peninsula and have never permitted an election," notes TIME's Scott MacLeod. "King Fahd has spent billions on vast and opulent expansion projects in Mecca and sister city Medina, partly out of vanity and party to show the Muslim world...
...government would like to have Al-Sayegh returned, don't look for any moves that might upset Iran until after the annual Haj to Mecca concludes in mid-April, MacLeod notes. "The pilgrimage of hundreds of thousands of devout Muslims is a major source of prestige for the Al Saud family throughout the world, and the Saudi government is determined to make it go as smoothly as possible. It will not be eager to antagonize anybody at such a delicate moment, least of all Iran, which has stirred up trouble at Mecca in previous years...
...government would like to have Al-Sayegh returned, don't look for any moves that might upset Iran until after the annual Haj to Mecca concludes in mid-April, MacLeod notes. "The pilgrimage of hundreds of thousands of devout Muslims is a major source of prestige for the Al Saud family throughout the world, and the Saudi government is determined to make it go as smoothly as possible. It will not be eager to antagonize anybody at such a delicate moment, least of all Iran, which has stirred up trouble at Mecca in previous years...