Saudi Arabia’s Grand Mufti, Sheikh Abdul Aziz Al-Asheikh, has green-lighted the subscription to Saudi Aramco’s initial public offering (IPO).

 

The Grand Mufti’s approval means that Saudi Aramco’s operations are shariah-compliant, as the main business of the company is oil and gas.

 

Earlier this week, Saudi Aramco floated 1.5% (or 3 billion shares) in local market for subscription.

 

For more details about Saudi Aramco IPO

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