Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,162,657 members, 7,851,251 topics. Date: Wednesday, 05 June 2024 at 03:51 PM

Recession: Saudi Dumps Islamic Calendar To Save Funds - Foreign Affairs - Nairaland

Nairaland Forum / Nairaland / General / Politics / Foreign Affairs / Recession: Saudi Dumps Islamic Calendar To Save Funds (389 Views)

Malian Scaled 4 Storeys To Save Child In Paris, Met President, Gets Citizenship / South Africa Slips Into Its Second Recession In 8 Years / Saudi Arabia Drops Islamic Calendar Over Oil Crisis - Adopts Gregorian, Cuts Pay (2) (3) (4)

(1) (Reply)

Recession: Saudi Dumps Islamic Calendar To Save Funds by Eltigre7: 1:27pm On Oct 03, 2016
The birthplace of Islam containing Mecca – Islam’s holiest site – shifted to the western Gregorian calendar on Sunday, bringing the oil-rich kingdom in line with many of its energy customers.

But the real reason is the need to conserve funds.

Saudi Arabia like other oil exporting countries is facing an unprecedented cash squeeze, with the government slamming salary cuts all over.

The Islamic lunar calendar is actually 15 days shorter than the 365-day solar year. The calculation is that the measure will save the kingdom money by cutting salary days for many public servants.

The kingdom began the use of Islamic calendar since it was founded in 1932, Al Arabiya local news reported.

The Saudi workers will now need to work more days to earn the salaries already sliced by government.

The decision came after the cabinet announced last week the reduction of salaries of ministers and Shura members (advisors).

It was part of an austerity package, including cancellation and amendment of civil servants’ allowances and rewards, such as cancelling the annual bonus.

Saudi Arabia has taken a series of steps to deal with the dropping oil prices in global markets.

In Nigeria, the state governments in Kano and Oyo have declared special holiday to mark the Islamic year, which began on 3 October.

While Kano has declared Tuesday, Oyo state has made Monday a double holiday, one for Nigeria’s independence and the other to mark the Islamic New Year, 1438 AH.

Governor Abiola Ajimobi made the declaration on Sunday at the 1438 Hijrah Grand Rally organised by the National Council of Muslim Youth Organisations (NACOMYO) at Ibadan. Oct. 3 is the lunar month of Muharram, which is the first month of the Islamic calendar.

Read more at: http://www.vanguardngr.com/2016/10/saudi-dumps-islamic-calendar-to-save-funds/
Re: Recession: Saudi Dumps Islamic Calendar To Save Funds by veacea: 1:28pm On Oct 03, 2016
What?

(1) (Reply)

I Will Never Opt Out Of The Race- Donald Trump Vows / Donald Trump Calls The Mainstream Media DISHONEST / African Leaders Steal $50bn Annually, Says German Parliament

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 14
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.