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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.
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.
“To be the most successful banks locally and globally through distinguished services, modern technical means, qualified employees and Sharia-compliant products.”
“A leading, reliable banking company offering innovative financial solutions to improve the lives of people everywhere.”
https://en.wikipedia.org/wiki/Al-Rajhi_Bank
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https://finance.yahoo.com/quote/1120.SR/
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https://companiesmarketcap.com/largest-companies-by-revenue/
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https://www.marketscreener.com/quote/stock/AL-RAJHI-BANKING-AND-INVE-6497957/
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