1975 in the United Arab Emirates

← 1974 1973 1972 1975 in the United Arab Emirates → 1976 1977 1978
Decades:	1970s 1980s 1990s
See also:	Other events of 1975 Timeline of Emirati history

The following lists events that happened during 1975 in the United Arab Emirates .

Incumbents

• President: Zayed bin Sultan Al Nahyan
• Prime Minister: Maktoum bin Rashid Al Maktoum

Events

March

• March 12 - The Dubai Islamic Bank was established in the United Arab Emirates, becoming the first private institution to operate under the principles of Islamic banking. With the charging of interest on a loan prohibited by Islamic law, the banks instead make an investment in the item upon which the loan is planned, without a fixed interest rate. Similar Islamic banks were established in 1977 in Kuwait, Egypt and the Sudan. ^[1]

References

1. Abdullah Saeed, Islamic Banking and Interest: A Study of the Prohibition of Riba and its Contemporary Interpretation (BRILL, 1996) p14