Scholars have conducted considerable research about the socio-economic environment in Saudi Arabia,
especially because of its strategic relevance in the world’s energy sector. The Kingdom of Saudi Arabia has been
considered the cradle land of the Islamic society. According to Nonneman (2006), Saudi Arabia is the heart of
Islamic religion. The City of Mecca has a religious connotation to all Muslims across the world. When defining
the socio-cultural practices of the Saudi society, Lacey (1982) says that it is important to understand the role of
religion. The majority of the residents in the country are Muslims, practicing strict Islamic teachings as
stipulated in the Shariah law. It is a fact that other religious groupings such as Christians and Hindus also exist in
the country, but they constitute a negligible percentage. Their impact on this society would be considered
inconsequential, given the fact that others are just visitors who come for trade or for a tour. This means that the
social environment is closely defined by this religion. It would be important to understand how the social
environment of this country affects the financial sector.