UAE convicts Saudi minister of fraud, issues $450m fine

0 13

FEED THE POOR

Feeding the poor and needy is an act that draws us closer to Allah. We earn His forgiveness, mercies and blessings through this act of charity.

“Anyone who looks after and works for a widow and a poor person is like a warrior fighting for Allah?s cause, or like a person who fasts during the day and prays all night. (Bukhari)

YOU MIGHT ALSO LIKE

The Court of First Instance in Dubai has found the Saudi Minister of Labour, Ahmed Al-Rajhi, guilty of fraud issuing him a $450 million fine in the case filed against him by the Palestinian-Canadian businessman Omar Ayesh.

The court also charged Al-Rajhi with nine per cent annual interest on the fine, starting from 12 March 2017 until the completion of the payment.

The court ordered the Saudi official to pay Ayesh, who holds a 25 per cent share in Tameer Holding Investment Company, $2.8 million in compensation for material and moral damages.

Al-Rajhi and his brothers were accused of seizing the properties and assets of Tameer Holding Investment, including the shares of its founder, Ayesh.

“The ruling is historical for the real estate market in the UAE as the Dubai court ordered Saudi Minister Ahmed Al-Rajhi to pay nearly 2 billion dirhams,” the Arabic Post quoted Ayesh as saying.”Although the ruling came at a much lower amount than I expected, it represents a great victory for justice in the face of corruption and injustice,” he added.

READ: Saudi Arabia allows Israeli airline to use its airspace

Support Islam Religion Guardian
At the present time, we are running on very limited funds. In order for us to run Islam Religion Guardian service efficiently, we are in need of your generous support.

Middle East Monitor

Subscribe to our newsletter
Sign up here to get the latest news, updates delivered directly to your inbox.
You can unsubscribe at any time

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy
Islamreligionguardian We would like to show you notifications for the latest news and updates.
Dismiss
Allow Notifications