SAUDI WTO MEMBERSHIP LIBERALISATION
September 1st, 2005
BY KEITH NUTHALLBARRIERS preventing the insurance industry from penetrating one of the world's last largely-untapped insurance markets are to be demolished, with Saudi Arabia agreeing to liberalise a strict regulatory system to gain World Trade Organisation (WTO) membership.In a key deal with the US, Saudi Arabia has promised to sweep away restrictions hindering insurers from offering standard western-style services previously deemed un-Islamic under the country's strict Wahabist Sunni Muslim system.While there are some exceptions, until now Saudi citizens have ...
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