Islamic Finance
Tax
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Saudi Arabia Banks in $4.5 Billion Settlement Over Islamic Taxes
Major banks in Saudi Arabia reached settlements worth a combined 16.7 billion riyals ($4.5 billion) with the kingdom’s tax authority over a religious levy the lenders had been kicking against. The deals come as the world’s largest crude exporter predicts a budget shortfall of 131 billion riyals, or 4.2 percent…
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Click here to read the full story: Bloomberg