Most Arab states to start Ramadan Friday
Source: BI-ME with AFP , Author: Posted by BI-ME staff
Posted: Fri July 20, 2012 9:42 am

UAE. Ramadan will begin on Friday in most Arab countries, religious authorities announced, but in Oman and Syria as well as for Iraq's Sunni Muslims and in non-Arab Iran it will start on Saturday.

Algeria, Egypt, Jordan, Kuwait, Qatar, Saudi Arabia, Tunisia, the United Arab Emirates and Yemen, as well as Lebanon's Sunni Muslims, were among those to announce a Friday start.

During Ramadan, Muslims fast from dawn to dusk and strive to be more pious and charitable.

The month begins with the sighting of the new moon, which varies from country to country.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

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UAE. The recent increase in mortgage activity can be attributed towards the rise of end users and investors taking advantage of capital structure through leverage. Structurally speaking, the higher levels of mortgage indicate that there will be lower levels of "flipping".
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