There is a controversial thing happening now The bank NCB is going public Its IPO Plans by Saudi Arabia’s biggest bank for a $6 billion initial public offer of shares, the largest-ever equity sale in the Arab world, have run into religious controversy with some clerics suggesting it violates Islamic principles. “The conflict between religion and the economy in the kingdom has been negative for a long time, but this will not stop ordinary citizens from participating in the IPO,” said Mazen al-Sudairi, head of research at al Istithmar Capital in Riyadh.

“It contributes 16 percent of lending activity in the country and it has 435 billion riyals ($116 billion) of assets and 345 billion riyals of deposits...Bank depositors alone could be enough to cover the IPO several times.” “Poor citizens, they don’t know what to do - if they subscribe, they are told they don’t have faith, and if they do not, they are not patriotic...

Do you think churches here should go public also?

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