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Headline

Castles in the sand

Comment

No article on Saudi projects is complete with a word on finance and banks. The financing of the extension of the Prophet's Mosque through unislamic monies (Clifford Chance/Aljadaan), the construction of Jabal Omar in Mekkah with interest money (White & Case/Alshaikh) or the writing of the mortgage law forcing sharia judges to record security for riba loans (Abdulaziz Algasim) are pushing Saudi Arabia away from its heritage and into eonomic turmoil. We Saudis will have to pay the price in decades to come when all western companies have long vanished.

Posted date

27-Dec-2010

Posted time

11:54 pm

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