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Saudi women hold 70 percent of deposits in bank current accounts

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  • Islamic News and Information Network
    Assalamu alaikum Saudi women hold 70 percent of deposits in bank current accounts http://www.iviews.com/scripts/news/stories/default.cfm?id=458686 RIYADH, May
    Message 1 of 1 , May 4, 2001
      Assalamu'alaikum

      Saudi women hold 70 percent of deposits in bank current accounts

      http://www.iviews.com/scripts/news/stories/default.cfm?id=458686

      RIYADH, May 2 (AFP) - Women hold bank deposits worth 11.5 billion dollars in
      oil-rich Saudi Arabia, or 70 percent of the total value of current accounts,
      a newspaper reported Wednesday.

      Researcher Amal al-Teejani, an economics professor at King Abdul Aziz
      University in Jeddah, found that Saudi women also hold 20 percent of equity
      in shareholding companies, 15 percent of individual establishments and 10
      percent of land.

      The female professor told Al-Watan newspaper that 34 percent of private
      businesses in Riyadh, 25.6 percent in the Red Sea city of Jeddah and 5.58
      percent in Mecca, home of Islam's holiest sites, were owned by women.

      The commercial capital of Jeddah alone has 4,000 businesswomen, she said.

      Saudi Arabia applies a strict Sunni interpretation of Sharia law and the
      role of women has been largely limited to the home.

      Although their job prospects are restricted mainly to the health and
      education sectors because of a strict segregation of the sexes, some
      openings have emerged in recent years.

      Saudi women are veiled in black in public and are not permitted to travel
      without the approval of a husband or father or eat alone in a restaurant,
      but they are allowed to run their own businesses.

      Under Islamic law, most women in Saudi Arabia make their wealth from
      inheritances but they are not active on the work or investment fronts,
      keeping their money in bank accounts.

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