Al Rajhi Bank Headquarters Riyadh: A Modern Architectural Marvel
Al Rajhi Bank, one of the largest Islamic banks in the world, has its headquarters in Riyadh, Saudi Arabia. Founded in 1957, the bank has over 9,600 employees and $88 billion in assets. With over 600 branches primarily in Saudi Arabia, the bank has subsidiaries in Kuwait, Jordan, and Malaysia.
The Al Rajhi Bank Tower, a 205-meter commercial skyscraper, is located in the al-Muruj neighborhood of Riyadh. The tower, completed in 2017, accommodates the bank’s headquarters in Riyadh. Plans have been approved to construct another tower to expand the bank’s headquarters. The bank’s head office is on Olayya Street, Aqaria 3, Riyadh, 11411; its toll-free number is 800 124 8880.
Al Rajhi Bank has over 60 years of experience in banking and trading activities. It is one of the largest joint-stock companies in Saudi Arabia and the Middle East, with total assets of SAR 583 billion (US$ 155 billion) and a paid-up capital of SAR 25 billion (US$ 6.67 billion). The bank’s focus on Islamic banking and its commitment to innovation and customer service has helped it become a major player in the global banking industry.
History and Background
Al Rajhi Bank is one of the largest banks in Saudi Arabia, with its headquarters located in Riyadh. Established in 1957, the bank has become one of the most prominent financial institutions in the Middle East.
Establishment and Growth
Founded by four brothers, Saleh, Sulaiman, Abdullah, and Mohamed, the bank started as an exchange house before being converted into a bank in 1988. Al Rajhi Bank has over 600 branches, primarily in Saudi Arabia, Kuwait, Jordan, and a subsidiary in Malaysia. As of 2018, the bank has over 9,600 employees and assets worth $88 billion.
Al Rajhi Family Legacy
The Al Rajhi family has played a main role in the structure and growth of the bank. Saleh bin Abdulaziz Al Rajhi, one of the founding brothers, was born in 1920 in Bkeriyah in Al Qassim Province, Saudi Arabia. He grew up with his father and mother, Abdulaziz and Ayesha Al Rajhi, and four siblings.
With over 60 years of experience in banking and trading activities, the various individual and corporate services offered by Al Rajhi Bank have made it one of the biggest banks in the world by market cap and the biggest in the Middle East and Saudi Arabia. The bank has a paid-up capital of SAR 40 billion (US$ 10.66 billion) and a worker base of over 9,300 associates.
In conclusion, Al Rajhi Bank’s history and background are rooted in the Al Rajhi family legacy, which has played a significant role in its establishment and growth. The bank’s continued success is a testament to its commitment to presenting innovative financial solutions to its customers.
Corporate Structure
Al Rajhi Banking and Investment Corporation
Al Rajhi Bank is a Saudi Arabian bank founded in 1957 as an exchange house. In 1988, it was converted to a bank named Al Rajhi Banking and Investment Corporation. The bank is headquartered in Riyadh, Kingdom of Saudi Arabia, and works under Commercial Registration No. 1010000096. It is a major investor in Saudi Arabia’s business. It is one of the biggest joint stock companies in the Kingdom, with well over SR 330.5 billion in AUM ($88 billion) and exceeding 600 branches.
Subsidiaries and Affiliates
Al Rajhi Bank has several subsidiaries and affiliates, including Al Rajhi Capital, a Saudi Joint Stock Company that provides financial services such as asset management, investment banking, and brokerage services. Al Rajhi Takaful is another subsidiary that provides Islamic insurance services.
Joint Stock Company Status
Al Rajhi Bank is a Saudi Joint Stock Company that operates under the Saudi Arabian Monetary Authority (SAMA) supervision. As a joint stock company, it is owned by shareholders who have the right to vote on important choices, such as the election of the board of directors and the distribution of dividends. The bank’s corporate structure includes the General Assembly, the Board of Directors, and the Shariah Board, as well as five board committees and a group of executive management committees of the first and second levels.
In summary, Al Rajhi Bank is a Saudi Arabian bank that operates as a joint stock company under the supervision of the Saudi Arabian Monetary Authority. The bank has several subsidiaries and affiliates, including Al Rajhi Capital and Al Rajhi Takaful, and is one of the biggest joint stock companies in the Kingdom, with over 600 branches.
Financial Information
Total Assets and Net Profit
Al Rajhi Bank is known for its impressive financial performance, with total assets of SAR 808 billion (USD 216 billion) as of the end of 2023, making it the world’s largest Islamic bank by assets. The bank’s net profit for the same year was SAR 12.5 billion (USD 3.3 billion), demonstrating its ability to generate major returns for its shareholders.
Market Capitalization
As of April 15, 2024, Al Rajhi Bank had a market capitalization of SAR 319.5 billion (USD 85.2 billion), reflecting its strong position in the Saudi Arabian banking sector. This market capitalization places the bank among the largest joint stock companies in the Kingdom.
Paid Up Capital
Al Rajhi Bank has a paid-up capital of SAR 40 billion (USD 11 billion), a testament to its financial strength and stability. The bank’s paid-up capital is one of the highest among banks in the Kingdom, reflecting its commitment to maintaining a strong financial position.
Al Rajhi Bank’s financial performance is a testament to its strength and stability in the Saudi Arabian banking sector. Its impressive total assets and net profit, combined with its strong market capitalization and paid-up capital, demonstrate its ability to generate significant returns for its shareholders while maintaining a stable financial position.
Banking Services
Al Rajhi Bank provides its customers with various banking services. These services are built to cater to the needs of both retail and corporate clients. The bank offers its customers several types of accounts, loans, and credit cards.
Retail Banking
Al Rajhi Bank provides retail banking services to individuals and families. The bank presents various products and services to help customers manage their finances. These include personal accounts, savings accounts, and investment accounts. The bank also presents its clients with a range of loans and credit cards.
Retail banking services are designed to help customers take care of their finances and achieve their financial goals. Al Rajhi Bank offers a range of financial products and services to aid clients save money, invest money, and borrow money.
Corporate and Commercial Banking
Al Rajhi Bank provides corporate and commercial banking services to businesses of all sizes. The bank offers various products to help businesses manage their finances. These include business accounts, business loans, and commercial credit cards.
Corporate and commercial banking services are built to help businesses take care of their finances and achieve their financial goals. Al Rajhi Bank offers a range of financial products and services to help businesses save money, invest money, and borrow money.
Treasury and International Banking
Al Rajhi Bank provides its customers with treasury and international banking services. The bank offers various services to help customers manage their finances across borders. These include foreign currency accounts, foreign currency loans, and foreign currency credit cards.
Treasury and international banking services are designed to help customers manage their finances across borders. Al Rajhi Bank offers a range of financial products to aid customers in saving money, investing money, and borrowing money in different currencies.
Overall, Al Rajhi Bank offers its customers a range of banking services. These services are built to help customers manage their finances and achieve their financial goals. The bank offers various financial products to help customers save money, invest money, and borrow money.
Operational Network
Branches and ATMs
Al Rajhi Bank is one of the largest banks in the Middle East and has a strong operational network in Saudi Arabia. The bank has over 500 branches and over 4,100 ATMs across the Kingdom, making it easily accessible to customers. The bank also offers its customers online and mobile banking services, permitting them to manage their accounts from anywhere in the world.
Apart from its strong presence in Saudi Arabia, Al Rajhi Bank has many branches and ATMs in Kuwait and Jordan. The bank has 31 branches and 129 ATMs in Kuwait, while it has 14 and 68 ATMs in Jordan. This allows the bank to cater to the needs of customers in these countries as well.
Global Presence
Al Rajhi Bank has a global presence with branches in Malaysia and a representative office in Dubai. The bank has two branches in Malaysia, one in Kuala Lumpur and the other in Johor Bahru. These branches present various banking services to customers in Malaysia, including personal banking, corporate banking, and investment banking.
The bank’s representative office in Dubai is a liaison between the bank and its customers in the Middle East. The office provides various services, including trade finance, corporate banking, and treasury services.
Overall, Al Rajhi Bank has a strong operational network, allowing it to cater to customers’ needs in Saudi Arabia, Kuwait, Jordan, Malaysia, and the Middle East. The bank’s extensive connection of branches and ATMs, coupled with its online and mobile banking services, makes it one of the most accessible banks in the region.
Innovation and Technology
Al Rajhi Bank is known for its innovative and technologically advanced approach to banking services. The bank employs over 200 people in research and development roles to advance its technological and innovative framework while undergoing digital transformation and automation. In 2021, the bank generated $7.1 billion in revenues.
POS Systems
Al Rajhi Bank has implemented state-of-the-art POS systems to enhance the customer experience. The bank offers a wide range of POS systems to cater to the needs of different businesses. These systems have the latest technology to ensure fast and secure transactions. The POS systems are also designed to be user-friendly and easy to operate.
Online Banking Platforms
Al Rajhi Bank offers its customers a comprehensive range of online banking services. The bank’s online banking platform is designed to present customers with a seamless and convenient banking experience. Customers may log in to their accounts, transfer funds, pay bills, and perform other banking transactions anywhere and anytime.
The bank’s online banking platform is also equipped with high-end security features to guarantee the safety and security of customer data. Customers can guarantee that their personal and financial information is protected while using the bank’s online banking services.
Al Rajhi Bank is committed to providing its customers with innovative and technologically advanced banking services. The bank’s focus on POS systems and online banking platforms is a testament to its commitment to providing customers with a seamless and easy banking experience.
Investment and Trading Activities
Al Rajhi Bank is one of the largest banks in the region, with over 60 years of experience in banking and trading. The bank provides its customers with various investment and trading activities.
Al Rajhi Capital
Al Rajhi Capital is a Saudi-based investment firm that provides various investment services. It is a subsidiary of Al Rajhi Bank. The firm offers investment banking, asset management, and brokerage services. Al Rajhi Capital is licensed by the Capital Market Authority (CMA) in Saudi Arabia.
The investment banking services provided by Al Rajhi Capital include underwriting, mergers and acquisitions, and advisory services. The asset management services include managing mutual funds, discretionary portfolios, and real estate investment trusts (REITs). The firm’s brokerage services include trading in equities, fixed-income securities, and derivatives.
Al Rajhi Trading and Exchange Corporation
Al Rajhi Trading and Exchange Corporation is a subsidiary of Al Rajhi Bank that provides foreign exchange and remittance services. The corporation is licensed by the Saudi Arabian Monetary Agency (SAMA) and operates through a network of branches in Saudi Arabia.
The corporation provides foreign exchange services for individuals and businesses. It also provides remittance services for individuals who want to send money to other countries. The corporation offers competitive exchange rates and low fees for its services.
Al Rajhi Bank is listed on the Tadawul Stock Exchange in Saudi Arabia. The bank’s shares are actively traded on the exchange, making it a popular investment choice for regional investors. The bank’s investment and trading activities have helped it to become one of the largest banks in the region.
Customer Engagement
Al Rajhi Bank has a large customer base and offers various services to cater to their diverse needs. The bank has a reputation for providing excellent customer service, which has helped it maintain its position as one of the largest Islamic banks in the world.
Customer Base and Deposits
Al Rajhi Bank has the largest customer base in the Kingdom of Saudi Arabia, with over 18 million customers. The bank’s deposits have also steadily increased over the years, with a total of SAR 343 billion as of 2022.
Remittance Services
Al Rajhi Bank has an extensive network of remittance centers throughout the Kingdom of Saudi Arabia and other countries. The bank’s remittance services are fast, secure, and reliable, making it a popular choice for customers who need to transfer money to their loved ones.
Credit Card Services
Al Rajhi Bank offers its customers a range of credit card services, including Visa and Mastercard. The bank’s credit cards have various benefits, including cashback rewards, discounts, and other perks. Customers can also access their credit card accounts online or through the bank’s mobile app.
Al Rajhi Bank has a large customer base and offers various services to cater to their diverse needs. The bank’s reputation for providing excellent customer service has helped it maintain its position as one of the largest Islamic banks in the world.
Corporate Responsibility and Achievements
Al Rajhi Bank Headquarters in Riyadh is committed to corporate social responsibility programs that benefit different community sectors. The bank has continuously supported educational, health, and general social programs to improve the quality of life of people in the region.
Employee Welfare
Al Rajhi Bank Headquarters in Riyadh recognizes the importance of employee welfare and has implemented several initiatives to support its employees. These initiatives include:
- Providing a safe and healthy work environment
- Offering competitive compensation and benefits packages
- Providing training and development opportunities for employees
- Encouraging work-life balance
The bank’s commitment to employee welfare has resulted in a highly motivated and engaged workforce committed to providing exceptional customer service.
Awards and Recognitions
Al Rajhi Bank Headquarters in Riyadh has received several awards and recognitions for its commitment to corporate social responsibility and employee welfare. Some of the notable awards include:
- Best Corporate Social Responsibility Program Award
- Best Employee Welfare Program Award
- Best Islamic Bank Award
These awards are a testament to the bank’s commitment to positively impacting society and its employees.
Al Rajhi Bank Headquarters in Riyadh is committed to corporate social responsibility and employee welfare. The bank’s efforts have resulted in several awards and recognitions, highlighting its commitment to positively impacting society.
Frequently Asked Questions
What are the operating hours for Al Rajhi Bank’s headquarters in Riyadh?
Al Rajhi Bank’s headquarters in Riyadh operates from Sunday to Thursday, from 8:00 am to 4:00 pm. The bank is closed on Fridays Sat, Saturdays, and public holidays.
Where can I find the exact location of Al Rajhi Bank’s head office in Riyadh?
Al Rajhi Bank’s head office is on King Fahd Road in the Al-Murooj District of Riyadh. The address is Al Rajhi Banking & Investment Corp., 8467 King Fahd Road, Al Muruj Dist, Unit No (1), Riyadh 12263 – 2743, Kingdom of Saudi Arabia.
How can I get in touch with Al Rajhi Bank’s headquarters in Riyadh?
To contact Al Rajhi Bank’s headquarters in Riyadh, call their customer service number at +966 11 2116000. You can also send an email to info@alrajhibank.com.sa or visit their website at www.alrajhibank.com.sa.
What is the official mailing address for Al Rajhi Bank’s head office?
The official mailing address for Al Rajhi Bank’s head office is P.O. Box 28, Riyadh 11411, Kingdom of Saudi Arabia.
Can you provide the contact number for Al Rajhi Bank’s headquarters?
The contact number for Al Rajhi Bank’s headquarters is +966 11 2116000.
Who currently holds the position of CEO at Al Rajhi Bank?
As of the latest information available, Sulaiman Al Rajhi is the founder and honorary chairman of Al Rajhi Bank. The current CEO of the bank is Steve Bertamini.
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