Alrajhi Bank

Al Rajhi Bank is a cornerstone of Saudi Arabia’s financial sector, renowned for being the world’s largest Islamic bank by capital. Established in 1957, it boasts over 600 branches and a significant presence in the Middle East.

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Alrajhi Bank

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Al Rajhi Bank, known previously as Al Rajhi Banking and Investment Corporation, stands as the world’s largest Islamic bank by capital, based on 2015 data. Founded in 1957 by the Al Rajhi family, the bank has grown into one of Saudi Arabia’s largest joint stock companies, with over SR 330.5 billion in assets under management and a market capitalization of SR 302.80 billion.

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Headquartered in Riyadh, Al Rajhi Bank operates more than 600 branches, primarily in Saudi Arabia, with additional branches in Kuwait and Jordan, and a subsidiary in Malaysia. The bank offers a variety of banking services including deposits, loans, investment advice, securities trading, remittances, credit cards, and consumer financing, all adhering to Islamic banking principles.

Over the decades, Al Rajhi Bank has expanded its operations and influence. In 2006, the bank launched its first international branch in Malaysia, marking its foray into global banking. The bank’s services are designed to meet the needs of both consumers and businesses, with a significant focus on consumer banking, which generates a majority of its revenue and assets.

Despite facing controversies and allegations related to terrorist financing in the early 2000s, Al Rajhi Bank has maintained its stance against terrorism and continued to operate with integrity and adherence to legal and ethical standards. The bank has been recognized for its contributions to the Saudi economy and its efforts in supporting the government’s housing initiatives and broader social reform agendas.

Under the leadership of Abdullah bin Sulaiman Al Rajhi, the bank’s Chairman of the Board of Directors, and CEO Stefano Bertamini, Al Rajhi Bank continues to thrive and expand its services, maintaining its position as a leading financial institution in the region.

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