Al-Rajhi Bank is a Saudi Islamic bank, established in 1957. Al-Rajhi Bank is one of the major banking joint-stock companies, with a capital of 40,000,000,000 Saudi riyals. The bank governs its banking and investment dealings with the provisions and controls of Islamic Sharia. It was founded by the brothers Saleh, Abdullah, Suleiman and Muhammad, sons of Abdulaziz Al-Rajhi. The bank has the largest branch network in the Kingdom of Saudi Arabia, with a total of 500 branches. the date One of the branches of Al-Rajhi Bank in 1985 Al Rajhi Bank, one of the largest Islamic banks in the world, started its activities in 1957. Al Rajhi Bank has more than 50 years of experience in banking and commercial activities. The first bank branch for men was opened in Al-Dirah district in Riyadh in 1957 AD, while the first branch for women was opened in 1979 AD in Al-Shumaisi district. The year 1978 AD witnessed the merging of the various institutions bearing the name of Al-Rajhi under one umbrella in Al-Rajhi Banking and Trading Company, and in 1988 the bank was transformed into a Saudi public joint stock company. It is based mainly on the principles of Islamic banking. activity The objectives of the Bank are to engage in banking and investment activities in a manner that is in accordance with the provisions of Islamic Sharia. The bank carries out banking and investment business for its own account or for the account of third parties (individuals and companies) inside and outside the Kingdom.
