Al-Rajhi Bank
| File:RajhiBankLogo.gif | |
| Company type | Public |
|---|---|
| ISIN | SA0007879113  |
| Industry | Finance |
| Founded | 1978 |
| Headquarters | Riyadh, Saudi Arabia |
Key people | Sulaiman Bin Abdul Al Rajhi, Chairman Abdullah Sulaiman Al Rajhi CEO |
| Products | Financial Services |
| Revenue | SAR 4.5 billion (2005) |
| Total assets | 384,086,576,000 Saudi riyal (2019) |
Number of employees | 2,500 |
| Website | www.alrajhibank.com.sa |
Al Rajhi Bank (Arabic: بنك الراجحي) is a major name in Saudi Arabia's banking and business world. It has grown from a strong base, focusing on serving the needs of the nation and its citizens, contributing to the Kingdom's construction and development, and always operating within the framework of Shariah principles. Al Rajhi Bank is one of the largest joint stock companies in the Kingdom, with a paid up capital of SR 4.5 billion. Head Office is located in Riyadh and there are six Regional Offices.
History
Banking and trading activities of Al Rajhi Bank began 50 years ago. In 1398 H (1978) individual establishments were merged into "Al Rajhi trading and exchange corporation" and in 1404 H (1987) it was converted into a joint stock company under the royal decree No. 59, dated 3/11/1407. In 5/4/1409 H, the company was developed into Al Rajhi Banking and Investment Corp under the ministerial decision No. 1398.
RBIC's shareholding pattern still show that the four sons of Abdulaziz Al Rajhi (Saleh, Suleiman, Abdullah and Mohammed) and their heirs remain the corporation's primary equityholders. The Al Rajhi family is considered, by most in Saudi Arabia, as the country's wealthiest non royals, who assets are only surpassed by a handful of Al Saud's wealthiest.
RBIC is considered as one of the largest banking corporations in the kingdom with a Saudi capital standing at 100% which started by SR 750 million then increased to SR 1.5 billion and shifted to SR 4.5 billion.
The objectives of the bank are represented in practising banking and investment activities as per its articles of association, basic system, banking control regulations and the above ministerial decision. Al Rajhi Bank is practising banking and investment for its own account or on behalf of others within or outside the Kingdom.
External links
 |