01.10.2012 - Saudi- banks seizing dormant accounts against Shariah
Shariah experts on financial matters declare that local banks are committing a crime by seizing the deposits in accounts that had not been accessed in the past five years. The experts demand that agencies such as the Saudi Arabian Monetary Agency (SAMA) take action against such violations of both Shariah principles and rules of international banking. They made this demand while reacting to a recent media report that banks in the Kingdom seized the deposits in dormant accounts that were not operated for the past five years...............................................Full Article: Source
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