WORLDKINGS - Worldkings News - Asia Records Institute (ASRI) – Al Rajhi Bank: World's largest Islamic bank by capital

31-07-2020

(Worldkings.org) Al Rajhi Bank is the world's largest Islamic bank by capital based on 2015 data.

The Al Rajhi Bank (previously known as Al Rajhi Banking and Investment Corporation) is a Saudi Arabian bank and the world's largest Islamic bank by capital based on 2015 data. 

The bank is a major investor in Saudi Arabia's business and is one of the largest joint stock companies in the Kingdom, with over SR 330.5 billion in AUM ($88 billion) and over 600 branches. Its head office is located in Riyadh, with six regional offices. Al Rajhi Bank also has branches in Kuwait and Jordan, and a subsidiary in Malaysia and Syria.

Al Rajhi Bank was founded in 1957, and is one of the largest banks in Saudi Arabia, with over 9,600 employees and $88 billion in assets. 

Al Rajhi Bank offers a variety of banking services such as deposits, loans, investment advice, securities trading, remittances, credit cards, and consumer financing. All services are offered according to Islamic requirements.

As of 2016, 70 percent of Al Rajhi's assets and 55 to 60 percent of its revenue were generated from consumer banking, and the bank has an 18 percent share of the mortgage market in the Kingdom.

According to en.wikipedia


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