In addition to basic salary, Al Rajhi bank provides allowances and cash bonuses to its staff.
Monthly Cash Allowances:
These allowances are grouped into general allowances payable to all employees and special ones given to some job holders as follows:
- Housing allowance of 25% of basic salary,
- Transportation allowance based on grade,
- Shift,
- Cash transfer
Housing Allowance:
The bank provides housing for all employees. This is either by way of an allowance (25% of Basic Salary) OR premises owned/rented by the bank.
Cash Transfer Allowance:
Cash Bonuses:
Al Rajhi bank gives annual bonus to its employees as follows:
- One month basic salary during the holy fasting month of Ramadan.
- Cash bonus based on the profits of the bank’s employee fund. This varies from year to year depending on profits from the bank’s shares.
Employee Subscription to Social Insurance System:
In accordance with the social insurance system (GOSI) as applied to private sector companies, all Al Rajhi bank Saudi employees pay 9% of their basic salaries plus monthly housing allowance (with a maximum monthly housing allowance of SR 3000). The bank pays an additional 8% for the employee to GOSI to cover disability, old age and death and 6% for the employee (Saudi and Non-Saudi) to cover against work injuries and occupational risks.
Vacations:
Al Rajhi bank ensures enjoyment of its staff to their regular leave so as to regain energy after work, meet their social obligations, or improve their qualifications. The types of vacations given by Al Rajhi bank to its employees are as follows:
| Type |
Description |
| Annual: |
30 calendar days paid leave per year. |
| Social: |
6 calendar days for marriage, one day for birth of a child, one day for death of a close relation, legal mourning period for female employee whose husband dies. |
| Academic (Study): |
This may be given to Saudi employees for a period not exceeding two years as a full time student. It is leave without pay (LWP) for one time during service in Al Rajhi bank. This period will be included as service for end of service benefits provided that the student returns and continues work at Al Rajhi bank upon expiry of his study. |
| Examination: |
This is given to Saudi employees who continue study on a part-time basis provided it should not exceed the days set for the examination. Repetition of year examinations are not granted this leave. |
| LWP: |
An employee may be allowed leave without day (LWP) for up to ten days a year. |
| Hajj: |
An employee who has at least one year service is entitled for two-day paid leave if desiring to perform Hajj. This is allowed once only during service with the bank. |
| Sick: |
Based on a report issued by approved medical center sick leave will be granted each year of service as follows: full salary for 30 days, three quarters of salary for the next 60 days, without pay for the next 30 days. |
| Maternity: |
Special leave during pregnancy, if recommended by an approved medical center may be granted by the relevant deputy general manager.
Maternity leave of 45 days will be granted based on a report issued by an approved medical center. |
| The National Day: |
This is added to the annual leave making it 31 days. It falls on Sep 29 every year. |
| Vacation tickets for non Saudi staff |
Non-Saudi employees are granted tickets for annual leave. His wife and up to two children aged under 12 are also given tickets provided they are resident in Saudi Arabia and on the employee’s Iqama. |
Employee Fund:
As a sign for support to its staff, the bank has set up a fund designed to provide interest free loans and bonuses to employees as follows:
Interest-Free Loans: Loans vary based on length of service of an employee within the bank. They are repayable through a set number of monthly installments.
Profits of Employee Fund: The fund allocates 75% of its annual profits as a bonus to employees. The bonus is a percentage of the employee’s monthly basic salary a year. To be eligible employees must have completed a complete calendar year of service at the 31st December of the relevant year.
Recreational Activity of Employee Fund: The fund allocates 5% of its profits to support employee’s social and recreational activities and an amount not less than SR 100 for each employee at group, regional and branch levels. Each department or district can use this allocation for approved recreational activities for staff.
Health Care:
Al Rajhi bank provides health care to employee, wife and children through hospital and medical centers approved by the bank. Health care is provided according to medical cards issued by HR&D. The employee bears 15% of the cost of treatment including medical check up, X-ray, medication and lab service costs. However, costs of in-patient services and operations are fully paid by Al Rajhi bank if the treatment is recommended by an approved medical center.
An employee may consult other non-contracted medical center after obtaining approval from the bank (however this approval is not needed in an emergency situation). In the case of non-contracted medical centers the employee bears 30% of treatment.
Banking Facilities:
Credit Card:
An Al Rajhi bank employee is eligible to obtain a Visa or MasterCard card. The bank bears 50% of card issuance and re-renewal fees.
Installment Based Sale Services:
Al Rajhi bank allows for some of its employees to available installment services related to real estate, cars and shares according to set of defined criteria.