Saudi Arabia Report
Marcopolis presents the Saudi Arabia Report focused on the investments, doing business, economy and other topics featuring interviews with key executives. The sectors under review in this issue are industry, real-estate, ICT, investments, banking sector, telecom sector and many more.
Top 10 Companies6.23.2015
Al Rajhi Bank
Al Rajhi Bank is the largest foreign exchange business and banking corporation in Saudi Arabia, and one of the largest Islamic banks in the world. Al Rajhi employs over 9,000 people, and has more than 500 branches, 120 women branches, 3,600 ATMs, and 33,000 POS units within the country.
Major shareholders include GOSI and Sulaiman A. Al Rajhi Endowment Co. The bank has significant presence in Kuwait, Malaysia, and Jordan.
The company focuses on multiple segments (retail, corporate, e-banking, and investments), and closed Q1 2015 with total assets of $76.8 billion and market capitalization of almost $30 billion.
The company was founded by the Rajhi brothers in 1958. The Rajhis came from a traditional Nejdi family from the village of Bukairiyah, just outside Buraidah in Qassim, which is home to other prominent businessmen such as Ali Tamimi and the Bassam family.
The four brothers, Salih, Abdullah, Suliman and Mohammad bin Abdel-Aziz Rajhi, own the A1 Rajhi Company for Currency Exchange and Commerce. Suliman holds 42% of the company and is thought to be the richest Saudi outside the ranks of the royal family.
