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Al Rajhi Bank

Saudi Arabian bank and the world's largest Islamic bank

Categories

Financial and Banking  
Technology  

#180

Rank

$96.96B

Marketcap

SA Saudi Arabia

Country

Al Rajhi Bank
Leadership team

Mr. Hisham Bin Ali Al Aql (Top Key Exec.)

Mr. Abdulrahman Abdullah Abdulrahman Al-Fadda (Chief Financial Officer)

Industries

Financial and Banking

Technology

Products/ Services
Banking, Finance, Financial Services, Predictive Analytics
Number of Employees
1,000 - 20,000
Headquarters
Ar Riyadh, Ar Riyad, Saudi Arabia
Established
1957
Net Income
1B - 20B
Revenue
Above - 1B
Traded as
1120.SR
Social Media
Overview
Location
Summary

Al Rajhi Banking and Investment Corporation, together with its subsidiaries, provides banking and investment services in the Kingdom of Saudi Arabia and internationally. The company operates through four segments: Retail, Corporate, Treasury, Investment Services and Brokerage. It offers current, future, affluent, private, ladies, business, and escrow accounts; personal, auto, home, car, real estate, fleet, payroll, POS merchant, contract, invoice, and working capital finance services; credit and debit cards; and personal accident, medical, staff guarantee, marine cargo, engineering, machine breakdown, property, vehicle, and professional responsibility insurance products. The company also provides documentary collection, letters of credit, letters of guarantee, supply chain finance, e-trade and automated trade notifications services; and cash management services. 

It offers Ijara Mawsufha Fi Al Dhimmah, which is used to finance large project finance transactions. Further, the company provides treasury products, including direct investment, banknotes, foreign exchange, and gold trading. Additionally, it offers real estate and engineering consulting services; recruitment services; micro consumer financing, finance lease, and small and medium business financing services; and technical work in financial services, digital payment systems, financial settlements, and related services. The company was founded in 1957 and is headquartered in Riyadh, the Kingdom of Saudi Arabia.

History

Al Rajhi Bank is one of the largest banking groups in Saudi Arabia and the Middle East. It was founded in 1957 by Sheikh Saleh Abdullah Al Rajhi and his brothers and has since grown to become one of the leading banks in the region.

With over 9,600 employees and $88 billion in assets. The bank is headquartered in Riyadh, with over 600 branches and over 10,000 ATMs across the region, primarily in Saudi Arabia, but also in Kuwait, and Jordan, with a subsidiary in Malaysia. The bank was started by four brothers, Saleh, Sulaiman, Mohamed, and, Abdullah of the Al Rajhi family, one of the wealthiest families in Saudi Arabia. 

The bank initially began as a group of banking and commercial operations which, in 1978, joined together under the umbrella of the Al Rajhi Trading and Exchange Company. The company changed to a joint stock company in 1987, and after two years was rebranded as the Al Rajhi Banking and Investment Corporation. Since then, the bank has grown to become one of the largest banking and financial services providers in Saudi Arabia and the Middle East.

In 2006, the bank rebranded itself as Al Rajhi Bank. It is traded on the Saudi Arabian Stock Exchange, and around 75% of its shares are publicly owned. Al Rajhi's family members are the bank's largest shareholders. Also that year, after nearly 50 years of operation solely within Saudi Arabia, the bank launched Al Rajhi Bank Malaysia, signifying its first foray into international banking.

Nowadays, the bank also offers a range of digital services, such as mobile banking and online banking. Al Rajhi Bank is also a leader in innovation, having introduced several new products and services over the years, such as the Al Rajhi Card and Al Rajhi Ready credit facility. Al Rajhi Bank is one of the key players in the Saudi Arabian banking industry, and its services are used by millions of customers across the region.

 

Mission

“To be the most successful banks locally and globally through distinguished services, modern technical means, qualified employees and Sharia-compliant products.”

Vision

“A leading, reliable banking company offering innovative financial solutions to improve the lives of people everywhere.”

Key Team

Mr. Abdullah Sulaiman Al-Nami (Chief Compliance Officer)

Ibraheem Hamad Al-Zeer (Acting Chief Governance & Legal Officer)

Mr. Turki Mohammed Al-Dhfayan (Chief Marketing & Customer Experience Officer)

Mr. Ahmed Saleh Al Sudais (Chief HR Officer)

Abdullah Saleh Alomari (Chief Operating Officer)

Mr. James Chester Galloway (Chief Strategy Officer)

Mr. Abdulaziz Saad Al Resais (Chief Risk Officer)

Recognition and Awards
Best Enterprise in the Middle East and North Africa for 2013 - Al Rajhi Bank won four awards at the Sakani Forum 2021: Best Bank Award, Best Marketing Offer Award, Best Financing Agency
References
Al Rajhi Bank
Leadership team

Mr. Hisham Bin Ali Al Aql (Top Key Exec.)

Mr. Abdulrahman Abdullah Abdulrahman Al-Fadda (Chief Financial Officer)

Industries

Financial and Banking

Technology

Products/ Services
Banking, Finance, Financial Services, Predictive Analytics
Number of Employees
1,000 - 20,000
Headquarters
Ar Riyadh, Ar Riyad, Saudi Arabia
Established
1957
Net Income
1B - 20B
Revenue
Above - 1B
Traded as
1120.SR
Social Media