Al-Rajhi Bank

The Al Rajhi Bank (Arabic: مصرف الراجحي‎) (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 2006 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 a paid up capital of SR 16.25 billion. Its head office is located in Riyadh and there are six regional offices. Al Rajhi Bank also has 24 branches in Malaysia.

History

Banking and trading activities began in 1957. In 1978 the individual establishments were merged into "Al Rajhi Trading and Exchange Corporation" and in 1987 it was converted into a joint stock company under the royal decree No. 59. The company was renamed to Al Rajhi Banking and Investment Corp under the ministerial decision No. 1398, and was re-branded, in February 2006, to Al Rajhi Bank, but is still registered as Al Rajhi Banking and Investment Corp.

Al Rajhi Bank's shareholding pattern show that the four sons of Abdul Aziz Al Rajhi (Saleh, Sulaiman, Abdullah and Mohammed) and their heirs remain the corporation's primary equity holders.