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Current Accounts
Secure and flexible banking for day-to-day transactions.
setting exemplary standards in ethics, transparency, integrity and honesty
customer engagement and responsible banking
promoting financial inclusion
alrajhi bank has continued its efforts to promote financial inclusion by enhancing access to financial services for underserved segments. This includes adding branch locations to the alrajhi application that offer services for individuals with special needs, supported by sign language interpreters. This initiative, launched during the reporting year, is ongoing and remains in progress at the end of the reporting period.
Financial and Non-Financial Offerings by alrajhi bank
Financial Products
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Savings Accounts
Options for saving with competitive benefits.
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Personal Financing
Shariah-compliant personal financing solutions for various needs.
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Auto Financing
Car financing options tailored to customer preferences.
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Home Financing
Affordable home financing solutions to support property ownership.
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Credit Cards
A variety of credit card options, offering features like rewards and cashback.
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Remittance
Well accessible remittance network with more than 230 centers along with advanced mobile application, Powered by partnerships of over 120 correspondent banks in around 50 countries
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Kafalah Program
Is a program and initiative backed by the government designed to support small and medium sized enterprises (SMEs) that lack sufficient guarantee to secure funding. This enables banks to come up with funding based on economic feasibility studies. The program focuses on the affordability of financing and includes support for female entrepreneurs and young business owners. Additionally, alrajhi bank launched the first SME and Corporate banking mobile app in 2020 to further enhance accessibility for SMEs.
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MSME Support
The main goal of alrajhi banks’ product development is the support of micro, small and medium enterprises (MSMEs), while facilitating products’ that align with SAMA requirements. The bank offers financial and digital solutions and, among them, special financing options that aim to support business development. In light of COVID-19 pandemic, the bank supported and strengthened the SME segment by eliminating fee charges, thereby empowering these businesses during times of crisis. MSMEs remain an important focus area for the bank and their financing portfolio expanded considerably in the year.
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Takaful Insurance
alrajhi bank offers a comprehensive collection of Shariah-compliant insurance products, known as Takaful insurance, designed to cater to the diverse needs of its customers. Some of these offerings include:
a. Protection and Savings Programs: Tailored plans that combine savings with protection, assisting customers in achieving their financial goals while ensuring their family’s financial security. |
d. Medical Malpractice Insurance: Designed for healthcare professionals, this insurance offers protection against claims of malpractice, ensuring that practitioners can operate with confidence. |
b. Motor Insurance: Coverage options for vehicles, including third-party liability and comprehensive plans, providing financial protection against accidents, theft, and other unforeseen events. |
e. Travel Insurance: Provides coverage for various travel-related risks, including trip cancellations, medical emergencies, and lost luggage, ensuring a worry-free travel experience. |
c. Home Insurance: Policies that safeguard homes and their contents from unexpected risks such as fire, theft, and natural disasters, ensuring peace of mind for homeowners. |
f. Medical Insurance for Businesses: Offers comprehensive health coverage for employees, ensuring compliance with regulations and promoting workforce well-being. |
Non-financial services
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Digital banking platforms
Online banking and mobile application for easy account management and transactions.
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Financial literacy resources
Educational materials and tools to help customers make informed financial decisions.
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Accessibility enhancements
Services catering to underserved segments, including digital accessibility solutions.
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Corporate Social Responsibility (CSR) Initiatives
Programs that support community development and economic empowerment.
| Lines of Business | Products offered | # of relationships in 2023 |
Total loan as of 2023 (SAR Mn.) |
# of relationships in 2024 |
Total loan as of 2024 (SAR Mn.) |
| Women owned business | Financing (POS, Fleet, BIF, Ecommerce, Eirad) | 8 | 14 | 27 | 97.3 |
| Micro & Small Businesses (MSB) | Financing (POS, Fleet, BIF, Ecommerce, Eirad) | 22,336 | 18,561 | 31,011 | 28,238 |
| Medium businesses (SME) | Financing (POS, Fleet, BIF, Ecommerce, Eirad, Kafalah Program, General Lending) | 592 | 13,120 | 744 | 13,080 |
The table illustrates the financial services provided by alrajhi bank to various business segments, including women-owned businesses, micro and small businesses (MSBs), and medium businesses (SMEs). It outlines the range of financing products offered, such as POS (Point of Sale), Fleet, BIF (Business Instalment Finance), Ecommerce, Eirad, the Kafalah Program, and general lending.In 2023, there were 8 relationships established with women-owned businesses, resulting in total loans amounting to SAR 14 Mn. By 2024, these relationships increased to 27, with loans growing to SAR 97.3 Mn. For MSBs, the number of relationships rose significantly from 22,336 in 2023, with loans totalling SAR 18,561 Mn., to 31,011 relationships in 2024, with a loan total of SAR 28,238 Mn. Similarly, SMEs experienced growth, with relationships increasing from 592 in 2023 (loans totalling SAR 13,120 Mn.) to 744 in 2024, with a total loan value of SAR 13,080 Mn.
This data highlights the bank’s commitment to expanding financial inclusion and supporting the growth of diverse business segments through tailored financing solutions.
Providing non-financial support to undeserved groups:
Sign language training program
alrajhi bank has launched a comprehensive sign language training program aimed at enhancing accessibility for customers with disabilities. Over 35 employees across 9 cities have received specialised training, enabling them to effectively communicate with deaf and hard-of-hearing customers. Branches that have trained staff are now conveniently listed on the bank’s website and mobile app, allowing customers to easily locate branches offering these services. This initiative reflects alrajhi bank’s commitment to inclusivity and is part of the broader effort to support Saudi Vision 2030, which emphasizes improving services for all segments of society. By fostering a more inclusive banking environment, the bank continues to enhance its customer service experience while promoting accessibility.
EMKAN expands digital financing portfolio with new offerings for SMEs
EMKAN Finance, a leading FinTech company and microcredit arm of alrajhi bank, expanded its portfolio by introducing its new digital financing product tailored for micro, small, and medium enterprises (SMEs). This initiative aims to provide innovative, secure, and user-friendly financial solutions that cater to the diverse needs of various societal segments. Recognising the pivotal role micro and small businesses, as well as entrepreneurs play in economic sustainability, diversification, and innovation, EMKAN remains committed to offering adaptable financing options to support their growth. More on Emkan’s contribution to Saudi’s microfinancing market can be found under Emkan Finance on page 82 in the Report’s Business in Perspective chapter.