âAs cautious optimism returns, the banking sector is engaged in brand-image building exercises and Ramadan offers the much needed platform for these promotions,â M Shaharyar Umar, an analyst at Pan Arab Research, said in an e-mail on Aug. 28.
Muslims refrain from food, drink and sex during the day in the month, which began this year at the sighting of the crescent moon on Aug. 11. Consumer spending increases as friends and families gather for meals to break their fasts and when they celebrate the Eid holiday, marking the end of Ramadan, next week.
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