Banks, financing companies, insurance firms and entrepreneurs in Saudi Arabia will begin their Eid Al-Adha holiday starting Friday August 17, the Saudi Arabian Monetary Authority (SAMA) announced on Monday.
The date corresponds to Friday 6 Dhul-Hijjah 1439 in the Hijri year.
Work for the sectors will resume on Sunday August 26, which corresponds to Sunday 15 Dhul-Hijjah Hijri year, the Saudi central bank added.
Moreover, the Saudi Stock Exchange (Tadawul) said in July it would suspend trading activities for the Eid holiday starting from Sunday August 19, with trading resuming Sunday August 26.
Sunday August 19 corresponds to 8 Dhul-Hijjah1439 Hijri year, while Sunday August 26 corresponds to 15 Dhul-Hijjah 1439 Hijri year.
Eid al-Adha is one of the Islamic calendar’s two most important happenings. Translating into “Festival of Sacrifice”, it is the second of two festival celebrated every year (with the other being Eid al-Fitr). It honours Prophet Ibrahim’s readiness to sacrifice his son as an act of obedience to God, following which God provides a male goat to be sacrificed instead. As a tribute to the event, sheep and goats are sacrificed and their meet divided into three parts. One share is given to the poor, another to relatives and the third remains for the family.
Also Read: Kuwait reveals Eid Al-Adha holidayFor all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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