Founded in 1957, Al Rajhi Bank is one of the largest Islamic banks in the world with total assets of SR 307 billion (US$ 80 billion), a paid up capital of SR 16.25 billion (US$ 4.33 billion) and an employee base of over 9,600 associates. With over 58 years of experience in banking and trading activities, the various individual establishments under the Al Rajhi name were merged into the umbrella 'Al Rajhi trading and exchange corporation' in 1978 and it was in 1988 that the bank was established as a Saudi share holding company. Deeply rooted in Islamic banking principles, the Sharia compliant banking group is instrumental in bridging the gap between modern financial demands and intrinsic values, whilst spearheading numerous industry standards and development.
With an established base in Riyadh, Saudi Arabia, Al Rajhi Bank has a vast network of over 500 branches, over 118 dedicated ladies branches, more than 4,100 ATM's, 46,000 POS terminals installed with merchants and the largest customer base of any bank in the Kingdom, in addition to 170 remittance centers across the kingdom. The first men's branch was opened in Aldirah in 1957, with the first ladies branch being opened in AlShmaisi in 1979.
The banking and commercial activity of Al Rajhi Bank was initiated more than fifty years ago. In 1398H corresponding to 1978G, the individual institutions were merged under the name of Al Rajhi Exchange and Trade Company. In 1407H corresponding to 1987G, the company turned into a Joint Stock Company under the royal decree no. (59) dated 3/11/1407H and Al-Rajhi Banking and Investment Saudi Joint Stock Company was announced under the ministerial resolution no. (1398) dated 5/4/1409H.
Al Rajhi Bank is considered one of the major joint stock banking and investment companies with a 100% Saudi capital initiated by SR 750 million, then doubled to SR 1500 million and a stock grant and split up to SR 2,250 million took place. The capital doubled again to reach SR 4,500 million and also a stock grant and split up to SR 6,750 million took place. The capital doubled a third time to reach SR 13,500 million. And in 2008, the capital was increased to become SR 15 billion. During the year 2014, the bank's capital increased to SR 16.25 billion.
The Bank is run by a management organization that includes the Headquarters in Riyadh and six Regional Departments distributed over the following regions: Western, Central, Eastern, Qassim, Hail, Al Madina, Northern and Southern. The Bank owns the largest network of branches in the Kingdom (with more than 500 branches, 170 remittance centers in addition to 118 ladies branches), the largest ATM network (with more than 4,100) and POS distributed to merchants in more than 46,000 devices.
- Our Customer Centric Approach
- International Presence
- State of the Art Compliance