When it comes to banking in Saudi Arabia, one name stands head and shoulders above the rest – Al Rajhi Bank. Whether you’re an expat just arriving in the Kingdom, a Saudi national looking for Sharia-compliant banking, or a business owner seeking financial solutions, understanding what Al Rajhi Bank offers can make your financial life significantly easier.
Let me take you through everything you need to know about this banking giant that’s been serving customers since 1957.
What Is Al Rajhi Bank?
Al Rajhi Bank isn’t just another bank in Saudi Arabia – it’s the world’s largest Islamic bank and one of the biggest financial institutions in the Middle East. Founded in 1957 by Sheikh Saleh Abdullah Al Rajhi and his brothers (Saleh, Sulaiman, Mohamed, and Abdullah), the bank has grown from humble beginnings in Al Dirah, Riyadh, to a massive operation with over SR 384 billion ($102 billion) in total assets.
Here’s what makes Al Rajhi special: it’s 100% Sharia-compliant. Every single product, service, and transaction follows Islamic banking principles. No riba (interest), no haram investments – just ethical, values-based banking that aligns with Islamic teachings while meeting modern financial needs.
The numbers tell an impressive story:
- Over 9,600 employees
- More than 570 branches across Saudi Arabia
- 152 dedicated ladies’ branches
- Over 5,190 ATMs
- 106,000 POS terminals
- The largest customer base of any bank in the Kingdom
- Paid-up capital of SR 25 billion ($6.66 billion)
The History: From Trading Company to Banking Giant
Understanding Al Rajhi’s journey helps you appreciate why it’s so trusted today.
1957: The Al Rajhi family started various banking and commercial operations in Riyadh. The first men’s branch opened in Al Dirah.
1978: All individual Al Rajhi establishments merged under one umbrella called “Al Rajhi Trading and Exchange Corporation.”
1979: The first ladies’ branch opened in Al Shmaisi, recognizing the importance of serving female customers in culturally appropriate ways.
1987: The company transformed into a joint stock company.
1988: Officially established as Al Rajhi Banking and Investment Corporation, becoming a Saudi shareholding company.
2006: After nearly 50 years operating solely in Saudi Arabia, the bank made its first international move by launching Al Rajhi Bank Malaysia. The same year, it rebranded simply as “Al Rajhi Bank.”
Present Day: Al Rajhi is traded on the Saudi Stock Exchange (Tadawul) with approximately 75% of shares publicly owned, though the Al Rajhi family remains the largest shareholder.
What Services Does Al Rajhi Bank Offer?
Al Rajhi Bank serves individuals, businesses, and corporations with a comprehensive range of Sharia-compliant financial products. Let’s break down what’s available:
Personal Banking Services
Accounts:
- Current Accounts: For everyday banking needs with debit card access
- Savings Accounts: Including the popular Max Saver Account with profit returns
- Family Accounts: Designed for household financial management
- Future Accounts: Long-term savings with higher profit rates
- Investment Accounts: For those looking to grow their wealth through halal investments
Financing Products:
- Personal Finance: Sharia-compliant personal loans for various needs
- Auto Finance: Car and motorcycle financing following Islamic principles
- Home Finance (Real Estate Finance): Mortgage alternatives compliant with Islamic law. Al Rajhi holds an 18% share of the mortgage market in Saudi Arabia
- Contract Finance: For specific project funding
- Invoice Finance: Business-related financing solutions
Cards:
- Credit Cards: Multiple tiers offering different benefits and reward programs
- Debit Cards: Linked to your accounts for everyday purchases and ATM withdrawals
- Prepaid Cards: For controlled spending and budgeting
Insurance Products (Takaful): Al Rajhi offers Sharia-compliant insurance including:
- Medical insurance
- Property insurance
- Marine insurance
- Engineering insurance
- Employee fidelity insurance
- Machine breakdown coverage
- Liability insurance
- Cash-in-transit protection
Corporate and Business Banking
Business Accounts: Tailored for small, medium, and large enterprises
SME Services: Specialized support for small and medium-sized businesses, which has become a strategic focus as part of Saudi Arabia’s National Transformation Programme (NTP)
Corporate Banking Services:
- Working capital finance
- Fleet financing
- Payroll finance
- POS finance
- Supply chain finance
Trade Finance:
- Letters of Credit
- Letters of Guarantee
- Documentary collection services
- Supply chain solutions
Cash Management: Sophisticated treasury and cash management services for businesses
Treasury Products:
- Foreign exchange services
- Gold trading
- Direct investment products
- Banknotes trading
Investment and Brokerage Services
Through its investment arm, Al Rajhi offers:
- Brokerage Services: Trading in Sharia-compliant equities
- Investment Consultation: Professional advice on halal investments
- Real Estate Consulting: Property investment guidance
- Engineering Consulting: For project financing and development
Digital Banking: Al Rajhi in Your Pocket
Al Rajhi Bank has embraced digital transformation with impressive results. Their mobile and online banking platforms are among the best in the region.
Al Rajhi Mobile App
Available on both iOS (App Store) and Android (Google Play), the Al Rajhi app offers:
Key Features:
- Instant balance checking
- Fund transfers (domestic and international)
- Bill payments
- Mobile recharge
- Request additional Mada cards
- Personal financing applications with approval in seconds
- eMarket shopping platform integrated into the app
- Aywa vouchers for telecom products
- Rewards program tracking
- Referral code sharing
- Spotlight search and Siri integration (iOS)
- Biometric login for security
The app has been completely redesigned with an improved interface and state-of-the-art design, providing a customized personal banking experience. You can manage all banking operations anytime, anywhere with just a touch.
Online Banking
The web-based banking portal offers comprehensive account management:
- Full account overview
- Transaction history
- Statement downloads
- Transfers and payments
- Investment management
- Service requests
Phone Banking
For those who prefer voice interaction:
- Regular Customers: 920003344
- Excellence Services: 8001248880
- Available 24/7 for various transactions including cash withdrawal arrangements, account inquiries, and service requests
Islamic Banking Principles at Al Rajhi
What makes Al Rajhi different from conventional banks? It’s all about adhering to Sharia principles:
No Interest (Riba): Instead of interest, Al Rajhi uses profit-sharing arrangements. When you save money, you receive a share of profits generated from halal investments.
Halal Investments Only: Your money is never invested in businesses dealing with alcohol, pork, gambling, or other haram activities.
Ethical Transactions: All banking products use Islamic finance structures like:
- Murabaha: Cost-plus financing for purchases
- Ijara: Islamic leasing arrangements
- Ijara Mawsufha Fi Al Dhimmah: Used for large project financing
- Musharaka: Partnership-based investments
Sharia Supervision: A dedicated Sharia board ensures all products and services comply with Islamic law.
This commitment to Islamic principles is why millions of Muslims choose Al Rajhi – they can bank with confidence knowing their faith and finances are aligned.
Branch Network and Accessibility
Al Rajhi Bank makes banking accessible across Saudi Arabia and beyond.
In Saudi Arabia:
Branches: Over 570 branches throughout the Kingdom, plus 152 dedicated ladies’ branches where female customers can bank in privacy with female staff members.
ATMs: More than 5,190 ATMs strategically located across cities, malls, and commercial areas. These ATMs allow cash withdrawals, balance inquiries, and various other transactions.
Remittance Centers: 232 centers across Saudi Arabia for money transfers through Tahweel Al Rajhi services.
Operating Hours: Most branches operate Sunday to Thursday, 9:30 AM to 5:30 PM. Some branches in malls and commercial areas have extended hours.
International Presence:
- Kuwait: Multiple branches serving Kuwaiti customers
- Jordan: Branches providing services to Jordanian clients
- Malaysia: Al Rajhi Bank Malaysia operates as a subsidiary with branches in Kuala Lumpur, Shah Alam, Kota Damansara, and other locations
- Syria: Subsidiary operations (status may vary due to regional situation)
Customer Service and Support
Al Rajhi Bank provides multiple channels for customer support:
Contact Numbers:
For New Customers: 8001241222
For Existing Customers: 920003344
Fraud and Complaints (Toll-Free): 8001244455
Main Customer Service: +966 11 211 6000
Tahweel Al Rajhi: 920000084 or toll-free 800-1190-088
Investment Services: 800-124-5858 or +966-920005856
Email Support:
- General Inquiries: ebanking@alrajhibank.com.sa
- Customer Care: care@alrajhibank.com.sa
- Help: help@alrajhibank.com.sa
Social Media:
Al Rajhi maintains active presence on Twitter, Facebook, and other platforms for customer support and engagement. Response times are reportedly quick, especially on Twitter.
Language Support:
Customer service is available in multiple languages including Arabic, English, Hindi, and Urdu, making it accessible for the diverse population in Saudi Arabia.
Average Response Time:
Phone support typically has hold times of up to 3 minutes. The shortest wait times are on Sundays and Saturdays, while Wednesdays tend to be busiest.
Opening an Account: What You Need
Getting started with Al Rajhi Bank is straightforward:
Required Documents:
For Saudi Nationals:
- Valid Saudi National ID
- Proof of income (for certain accounts)
For Expatriates:
- Valid Iqama (residence permit)
- Passport
- Proof of employment or salary certificate
- Some accounts may require minimum salary thresholds
Process:
- Visit a Branch: Go to your nearest Al Rajhi branch
- Choose Account Type: Discuss your needs with a representative
- Submit Documents: Provide required identification and documents
- Initial Deposit: Some accounts require minimum opening deposits
- Receive Your Card: Get your debit/ATM card
- Set Up Digital Banking: Register for mobile and online banking
Alternatively, some services allow online account opening through the app or website, though full verification may still require a branch visit.
Special Services Worth Knowing About
Tahweel Al Rajhi (Money Transfer)
Al Rajhi’s remittance service is one of the largest in the region with 232 centers. You can send money internationally through:
- Branch visits
- Phone banking (IVR system)
- Mobile app
- Online banking
The service operates 24/7 and supports transfers to numerous countries, which is especially valuable for expats sending money home.
Mortgage and Housing Solutions
In 2016, Al Rajhi became the first bank in Saudi Arabia to partner with the Ministry of Housing, participating in government plans to increase home ownership. They offer competitive real estate financing following Islamic principles, holding 18% of the Kingdom’s mortgage market.
Partnership with Saudi Real Estate Refinance Company (SRC)
In 2025, Al Rajhi signed SAR 10 billion real estate refinance portfolio agreements with SRC, expanding their capacity to provide housing finance to Saudi citizens.
Corporate Social Responsibility
Al Rajhi actively participates in community initiatives:
- Healthcare awareness campaigns like “Zahra Walk” for breast cancer awareness
- Gold award winner for CSR from the Ministry of Human Resources and Social Development (two consecutive years)
- Support for various charitable causes through Islamic principles of giving
Financial Performance and Stability
Al Rajhi Bank’s financial health is impressive:
Recent Performance (First Nine Months of 2025):
- Net profit rose 30% to reach SAR 18,417 million
- Consistent growth year over year
- Strong capital position
Market Position:
- Market capitalization: Over SR 302.80 billion
- Listed on Saudi Stock Exchange (Tadawul)
- One of the largest joint stock companies in the Kingdom
Asset Distribution:
- Approximately 70% of assets in consumer banking
- 55-60% of revenue from consumer banking
- Growing focus on mid-corporate and SME sectors
This financial strength means your deposits are with a stable, well-capitalized institution.
Technology and Innovation
Al Rajhi positions itself as a digital banking pioneer:
Fintech Partnerships:
The bank actively collaborates with fintech companies in:
- Open Banking
- Blockchain technology
- Digital payments and wallets
- Big Data and Analytics
- Artificial Intelligence and Machine Learning
- Smart assistants
- Cybersecurity
Oracle Cloud Integration:
Al Rajhi uses Oracle Risk and Finance Solutions, making it one of the most technologically advanced banks in the region. This integration provides:
- Better data quality
- Reduced IT complexity
- Improved risk management
- Enhanced regulatory compliance (IFRS9, Basel III)
- More precise financial planning
Mobile-First Approach:
The bank prioritizes mobile banking, continuously updating the app with new features based on customer feedback and technological advancements.
Who Should Choose Al Rajhi Bank?
Al Rajhi Bank is ideal for:
Muslims Seeking Halal Banking: If Islamic compliance is important to you, Al Rajhi offers complete Sharia-compliant services.
Expats in Saudi Arabia: With multilingual support and understanding of expat needs (remittances, salary accounts), it’s expat-friendly.
Saudi Nationals: Especially those interested in home financing through the government housing program.
Businesses and Entrepreneurs: From SMEs to large corporations, Al Rajhi provides tailored business banking solutions.
Digital Banking Enthusiasts: If you prefer managing finances through apps and online platforms, Al Rajhi’s digital infrastructure is excellent.
Families: Family accounts and ladies’ branches show commitment to serving household banking needs appropriately.
Common Questions and Concerns
“Is Al Rajhi Bank safe?”
Yes. Al Rajhi is one of the largest and most stable banks in the Middle East with strong capital ratios and regulatory oversight from the Saudi Central Bank (SAMA).
“How does profit-sharing work instead of interest?”
Your deposits are invested in Sharia-compliant projects and businesses. Profits generated are shared with depositors according to agreed ratios. This differs from fixed interest rates.
“Can non-Muslims bank with Al Rajhi?”
Absolutely! While all products are Sharia-compliant, the bank serves customers of all faiths. Many non-Muslims appreciate the ethical investment approach.
“What if I have issues or complaints?”
Contact customer service at 8001244455 (toll-free for complaints and fraud) or 920003344. You can also escalate through social media channels or visit a branch.
“Are my deposits protected?”
Yes, Al Rajhi Bank is regulated by the Saudi Central Bank and follows all Saudi banking regulations for deposit protection.
Tips for Getting the Most from Al Rajhi Bank
- Download the Mobile App: It’s the easiest way to manage your banking daily.
- Set Up Notifications: Enable transaction alerts to monitor all account activity and prevent fraud.
- Explore Rewards Programs: Credit cards and other products often have rewards – make sure you’re benefiting.
- Use ATMs Wisely: With over 5,000 ATMs, there’s always one nearby. Avoid fees by using Al Rajhi ATMs.
- Consider Ladies’ Branches: Female customers can enjoy more private, comfortable banking at dedicated ladies’ branches.
- Ask About Islamic Finance: If you’re new to Islamic banking, staff can explain how products work and ensure they fit your needs.
- Plan for Housing: If you’re considering buying property, explore Al Rajhi’s real estate financing early – it’s one of their strongest offerings.
Final Thoughts
Al Rajhi Bank represents the successful marriage of Islamic values and modern banking convenience. Whether you’re attracted by the Sharia-compliant approach, the extensive branch network, cutting-edge digital banking, or simply the bank’s reputation and stability, Al Rajhi offers a comprehensive banking experience.
From its humble beginnings in 1957 in Al Dirah, Riyadh, to becoming the world’s largest Islamic bank, Al Rajhi has stayed true to its principles while continuously innovating. The bank’s commitment to customer service, technological advancement, and Islamic values makes it a natural choice for millions of customers in Saudi Arabia and beyond.
If you’re in Saudi Arabia – whether as a resident, expat, business owner, or simply someone seeking ethical banking aligned with Islamic principles – Al Rajhi Bank deserves serious consideration. Visit a branch, download the app, or call customer service to explore how Al Rajhi can serve your financial needs.
After all, there’s a reason it’s been trusted for nearly seven decades and continues growing stronger every year.
Quick Reference:
Customer Service: 920003344 (existing) | 8001241222 (new)
Complaints/Fraud: 8001244455
Website: alrajhibank.com.sa
Headquarters: Riyadh, King Fahad Road
Founded: 1957
Total Assets: SR 384 billion ($102 billion)
Branches: 570+ in Saudi Arabia
ATMs: 5,190+
Mobile App: Available on iOS and Android
Operating Hours: Sunday-Thursday, 9:30 AM – 5:30 PM (most branches)
Ready to experience Saudi Arabia’s leading Islamic bank? Your financial journey with Al Rajhi starts today! 🏦
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