What is Special About Al Rajhi Bank?
Al Rajhi Bank
Al-Rajhi Bank is one of the largest Islamic banks in the world. It was established in 1957. The total financial assets of this bank are (80) million US dollars, and the paid-up capital is estimated at (6.77) billion US dollars. Al-Rajhi Bank owns many commercial activities .
In 1978 AD, individual financial institutions with different financial activities were merged to become Al-Rajhi Company for Trade and Exchange, and in 1988 AD this bank was established in the Kingdom of Saudi Arabia as a Saudi joint stock company.
Al Rajhi Bank branches around the world
Al-Rajhi Bank owns many banking branches inside the Kingdom of Saudi Arabia, which provide various banking operations to customers. Al-Rajhi Bank also owns many branches outside the Kingdom [1], which are as follows:
Al-Rajhi branch in Saudi Arabia
Al-Rajhi Bank owns many banking branches, both within the Kingdom of Saudi Arabia, as they numbered more than (570) branches and more than (152) branches specialized in female auditors only, and it has a large employee base of more than eight thousand employees.
Al-Rajhi Bank is one of the largest banking institutions that has been able to resist the economic downturn that the Kingdom has witnessed in recent years. Indeed, it has achieved profits amounting to (8.1%), and it is one of the leading Islamic banks in the field of using modern technology, especially as banking services The mechanism (ATM) is spread in all cities and governorates of the Kingdom of Saudi Arabia.
Al-Rajhi branch in Jordan
Al-Rajhi Bank was established in the Hashemite Kingdom of Jordan in 2011 AD, and it is considered a main branch of the main Al-Rajhi Bank located in the Kingdom of Saudi Arabia. The bank has ten branches in the Kingdom spread across the most densely populated governorates of the Kingdom: the capital, Amman, Irbid and Zarqa.
It is worth noting that Al-Rajhi Bank is one of the distinguished banks in the Kingdom in terms of the services it provides to customers, and it is always working on developing its operating systems in terms of making improvements to it. To ensure the provision of the best banking services, especially digital ones, as well as more than 35 automated teller machines (ATMs) spread across various regions, as well as electronic banking platforms.
Al-Rajhi branch in Kuwait
Al-Rajhi branch in the State of Kuwait is one of the best branches of the bank. It provides a system for managing information about customer accounts in the bank, as well as providing distinguished and effective customer service, especially visa services, credit cards, secure online shopping, the Kuwaiti National Payment System (KNPS) announced by the Central Bank, and other banking and credit services.
Al-Rajhi Bank also seeks to open serious branches in various parts of the country and support a digital platform in order to gain more customers.
Al-Rajhi branch in Malaysia
Al-Rajhi Bank in Malaysia is the first major center in the expansion plan, which was developed by the bank to expand its work in the Southeast Asian region [5], as it started its work in 2006 AD, and now it has approximately (16) branches spread throughout most of Malaysia .
Malaysia is the first stop for Al Rajhi Bank. To enter the banking market on an international rather than a regional level. In fact, it is an important step and a distinctive development in the history of the bank.[7] The bank’s assets in Malaysia amount to approximately (7) billion Malaysian ringgit, and the bank provides high-level banking services with strong credit.
This won the satisfaction of the Malaysian citizen, especially that it operates in accordance with Islamic Sharia, and the bank concluded a cooperation agreement in the year 2020 AD with the Artjasa Foundation; To provide various banking services, especially with regard to pilgrims coming from Malaysia, and this company is also one of the largest providers of national payment service in Indonesia.
Among the most important services provided by Al Rajhi Bank to its customers in Malaysia are the following:
- A bank customer can check the details of his personal accounts in the bank.
- The customer can transfer money to any destination he wishes to transfer to.
- The customer can also pay his bills through the bank electronically.
- These banking services are provided 24 hours a day, 7 days a week.
- The bank provides, through the Musafir transfer service, to the customer: direct contact with the bank in Saudi Arabia.
Services provided by Al Rajhi Bank
Al-Rajhi Bank offers many banking and credit services: whether for individuals or commercial companies, and among these services are the following:
- Account and deposit services.
- Commercial credit facilities
- Current account services.
- Account statement services.
- Services of senior merchants and businessmen.
- Personal financing services for individuals.
- Credit card services, letters of credit and guarantees.
Awards obtained by Al Rajhi Bank
Al-Rajhi Bank has received many valuable awards from various parties, and perhaps the most important of these awards are the following:
Best Bank Award in the Kingdom of Saudi Arabia for treasury work for the year 2021 AD.
Best Bank in the Kingdom of Saudi Arabia for Digital Banking for the year 2021.
Best Bank Award in the Kingdom of Saudi Arabia, in currency trading (Forex) for the year 2021 AD.
Best Bank in the Arabian Gulf Region for Retail Banking for the year 2021.
Best work environment award for the year 2018.
Best Retail Bank Award in Saudi Arabia for the year 2018.
The largest Islamic bank award for the year 2018.
Best Bank Award for the year 2017.
Best Bank in the Kingdom of Saudi Arabia (Euromoney Award) for the year 2017.
Best Bank in the Kingdom of Saudi Arabia (The Banker Award) for the year 2017.