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Saudi crown prince seeks solution to banks' tax row

Bankers say the way the tax is calculated is opaque; heavy financial demands on banks threaten sector's stability

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Crown Prince Mohammed bin Salman has directed the Saudi government to resolve a dispute with banks facing higher Islamic tax liabilities.

Riyadh

CROWN Prince Mohammed bin Salman has directed the Saudi government to resolve a dispute with banks facing higher Islamic tax liabilities, banking sources said, in an attempt to avoid any damage to his push to diversify the economy.

It follows disclosures by major Saudi banks

sentifi.com

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