Trade is governed by Islamic law and commercial jurisdiction belongs to the Board of Grievances. Commercial law is also not codified. In general, Shari'a allows for free access to commercial transactions agreed upon between the parties but prohibits interest and usury. In the event of a breach of a contract, Saudi courts will award damages only for direct damages, and compensation for loss of profit is not permitted. Contemporary aspects of commercial law, securities and guarantees, intellectual property and corporate law are governed by modern laws and special government committees dealing with these disputes. The government revised its intellectual property laws to conform to WTO standards that it joined in 2004.