The Bank engages to carry out banking and investment activities that are Shariah compliant. It shall practice theses activities for its own account and the account of others (individuals and companies) inside and outside the Kingdom.
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.
The Bank is ran 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 and Tahweel Centers), the largest ATM network (with more than 3,100) and POS distributed to merchants in more than 25,000 locations.