The Securities and Commodities Authority (SCA) has announced that UAE financial markets would be closed for an official holiday on Thursday, May 5, to commemorate Israa wal Miraj.
Israa wal Miraj, also known as The Night Journey, refers to a two-part journey the Prophet Mohammed undertook on the 27th day of the Islamic month of Rajab, in or about the year 621.
It marks the time the Prophet Mohammed travelled from Mecca to the Dome of the Rock in Jerusalem in one night.
Markets would reopen for business on Sunday, May 8, the SCA said in its statement.
Follow The National's Business section on Twitter