Alrajhi Bank
| File:RajhiBankLogo.gif | |
| Company type | Public |
|---|---|
| ISIN | SA0007879113  |
| Industry | Finance |
| Founded | 1978 |
| Headquarters | Riyadh, Saudi Arabia |
Key people | Sulaiman Abdul Aziz 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 |
The Al Rajhi Bank (Arabic: بنك الراجحي) (known as the Al Rajhi Banking and Investment Corporation until a February 23, 2006 name change[1]) is the world's largest Islamic bank, and a major player Saudi Arabia's business world. It 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 show that the four sons of Abdulaziz Al Rajhi (Saleh, Suleiman, Abdullah and Mohammed) and their heirs remain the corporation's primary equity holders. The Al Rajhi family is considered, by most in Saudi Arabia, as the country's wealthiest non royals, and among the world's leading philanthropists.
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.
References
External links
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