Al-Rajhi Bank

What Al-Rajhi Bank does

Al-Rajhi Banking and Investment Company (Al-Rajhi Bank) is the largest Islamic bank globally by market capitalization and the largest retail bank in Saudi Arabia, founded in 1957 and headquartered in Riyadh. It provides Sharia-compliant banking products including current and savings accounts (Mudarabah-based), credit cards across four tiers, personal financing, auto financing via Murabaha and Ijara, real estate financing with up to 90% loan-to-value, corporate and SME banking, takaful insurance, and remittance services to 200+ countries through the Tahweel brand. The bank serves 19+ million customers across retail mass-market, affluent, diamond, and private banking segments alongside SME and large-corporate clients through dedicated business solutions offices.

The bank's distribution combines the country's largest physical network (537 branches, 4,322 ATMs, 136+ remittance centers, and over 900,000 POS terminals) with a digital-first platform offering 200+ services on its mobile app and 95% digital customer penetration. Its technology stack includes a multi-year ServiceNow AI Platform deployment covering HR, IT, and Financial Services, the Mozn FOCAL AI-driven fraud-prevention platform, and AI-driven marketing and recommendation capabilities. The bank holds the first SAMA-issued open banking licenses in the Kingdom via its Neotek subsidiary and the Drahim fintech (acquired in 2024 with a 65% stake), positioning it at the center of Saudi Arabia's regulated open banking infrastructure.

Revenue is generated principally through net interest income from Islamic financing products (Murabaha, Ijara), fee and commission income from banking services, trade finance, and card transactions, and digital and value-added services including the 270+ partner Mokafaa loyalty program. FY2025 net profit reached SAR 24.79 billion on total assets of SAR 1.04 trillion, with Q1 2026 operating income of SAR 10.528 billion, a 14% YoY net income gain, ROE of 22.92%, and ROA of 2.58%. Capital strength was reinforced by an approved capital increase to SAR 60 billion in April 2026 and a $1 billion tier 2 USD social trust certificate issuance in September 2025.

Name

Al-Rajhi Bank

Legal name

Al Rajhi Banking and Investment Company (شركة الراجحي المصرفية للاستثمار)

Website

http://www.alrajhibank.com.sa

Company type

Public

Founded year

1957

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Al-Rajhi Bank is Saudi Arabia's largest Islamic bank, providing Sharia-compliant retail, SME, and corporate banking through 537 branches and digital platforms, serving 19+ million customers with payments, financing, insurance, remittances, and open banking services.

Ownership category

akta.pro rank

Product category

Islamic Retail and Commercial Banking

NAICS

Commercial Banking (522110), Depository Credit Intermediation (5221)

SIC

National Commercial Banks (6021)

akta.pro primary industry

Islamic Retail Banking (FSABAGAA)

akta.pro secondary industries

Islamic Corporate Banking (FSABAGAC), Shariah-compliant Financing Products (Murabaha, Ijara, Tawarruq, Istisna, Salam) (FSABAGAH), Islamic SME & Commercial Banking (FSABAGAB), Islamic Investment Banking & Capital Markets Services (FSABAGAG)

Keywords

• Islamic banking services
• Retail banking products
• Sharia-compliant financing
• Corporate banking solutions
• International remittances

Headquarters

HQ city

Ar Riyadh

HQ country

Saudi Arabia

HQ region

Middle East

Offices9 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Net Interest Income (Financing): Profit from Murabaha, Ijara, and other Islamic financing products including personal finance, auto finance, and real estate financing. Core revenue driver representing the spread between financing rates and cost of funds.
2. Fee and Commission Income: Fees from banking services including account services, wire transfers, trade services (letters of credit, guarantees), card transactions, and digital banking services. Q1 2026 total operating income reached SAR 10,528 million.
3. Investment Income: Returns from investment securities portfolio, sukuk investments, and strategic investments in fintech subsidiaries including Drahim and Neotek.
4. Digital and Value-Added Services: Revenue from digital services including remittance (Tahweel), insurance products, and partnership-based loyalty programs (Mokafaa with 270+ partners)

Pricing tiers

Go-to-market motion3 records

Distribution channels8 records

Marketing channels6 records

Core offering

Al Rajhi Bank delivers Sharia-compliant retail, business, and corporate banking products to 19+ million customers across Saudi Arabia. Core offerings include current and savings accounts (Mudarabah-based), personal/auto/home financing under Murabaha and Ijara structures, credit cards, Takaful insurance, business cash management and trade finance, international remittances (Tahweel), loyalty rewards (Mokafaa), and wealth management via Al Rajhi Capital. The bank combines 537 branches and 4,322 ATMs with a mobile app hosting 200+ digital services, supported by AI-driven fraud prevention (Mozn FOCAL) and open-banking subsidiaries (Neotek, Drahim).

Product overview

Al Rajhi Bank operates a comprehensive Islamic banking platform organized into Retail and Business segments. The Retail banking offers current and savings accounts (including Mokafaa loyalty program with 270+ partners), credit cards across multiple tiers (Infinite, Signature, Platinum, Classic), and financing products including personal, auto (Murabaha and leasing), and real estate mortgages. The Bank also provides international services via Al Rajhi Global and Tahweel transfer services. Business banking encompasses cash management, corporate cards, trade finance, fleet financing, and payroll services. The group structure includes subsidiaries: Al Rajhi Capital (investment management), Urpay (digital wallet), Neotek (open banking platform), Drahim (open banking app), and Emkan Finance (SME lending). The digital ecosystem integrates mobile banking with 200+ services, digital wallets (Apple Pay, Samsung Pay, Mada Pay, Google Pay), and AI-driven fraud prevention and workflow automation.

Differentiator

Problem solved

Functional benefit

Brands

• Tahweel: International remittance services allowing transfers to over 200 countries worldwide
• Al Rajhi Global
• Mokafaa
• Tasaheal
• Al Rajhi Capital
• Urpay
• Emkan Finance
• Al Rajhi Takaful

Products and services

• Current Account

Quantifiable outcome

• 450% increase in AI-driven marketing revenue since 2023
• +6 more outcomes

Named customers7 records

Segments6 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

AI capability6 records

Feature5 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• VisacoreGTM or Marketing Partner · 17 June 2026Strategic partnership through which Al Rajhi Bank serves as Official Exclusive Regional Partner for AFC Asian Cup Saudi Arabia 2027, as part of Visa's role as Global Payments Partner for the tournament. The partnership enables exclusive experiences, offers, and engagement opportunities for bank customers, aligning with Vision 2030 objectives of positioning Saudi Arabia as a global sporting destination.
• Neotek (Subsidiary)coreTechnology or Integration · 30 March 2026Neotek became the first entity in Saudi Arabia to receive an open banking license from SAMA after successfully passing the regulatory sandbox. The company processes 8+ million digital transactions since 2024 and has linked with all local banks and 20+ data providers, building a unified platform connecting banks and various entities through secure APIs.
• Radisson Hotel GroupminorGTM or Marketing Partner · 18 February 2026Banking partner for Radisson Rewards loyalty program, one of the largest loyalty ecosystems with 27+ million members globally. The partnership enables point conversions across banking loyalty programs, positioning Mokafaa as a global lifestyle program rather than just a banking rewards scheme.
• JeenyminorGTM or Marketing Partner · 8 February 2026Strategic partnership to integrate Mokafaa loyalty program directly into Jeeny ride-hailing platform, creating Saudi Arabia's first fully integrated Earn & Burn loyalty experience within ride-hailing. Users earn 4 Mokafaa points per SAR 1 spent on Jeeny rides regardless of payment method, with points redeemable to top up Jeeny Wallet.
• ServiceNow and ejada SystemscoreImplementation/ SI/ Consulting Partner · 10 November 2025Multi-year agreement to deploy ServiceNow's AI Platform across Al Rajhi Bank's operations in HR, IT, and Financial Services. ejada Systems serves as ServiceNow's consulting and implementation partner managing the deployment. Described as one of the biggest digital transformation agreements in the Middle East, aligning with Vision 2030 and positioning the bank to unify legacy systems into an intelligent platform.
• MozncoreTechnology or Integration · 20 October 2025Partnership to deploy Mozn's AI-driven financial crime prevention platform called FOCAL. The initiative aims to enhance security, customer protection, and regulatory compliance amid Saudi Arabia's rapid digital financial expansion, strengthening the bank's fraud detection and prevention capabilities.
• Money20/20 Middle EastminorStrategic or Co-development Partner · 15 September 2025Founding partner of Money20/20 Middle East fintech conference hosted in Riyadh by Saudi financial regulators (SAMA, CMA, Insurance Authority) and co-organized by Fintech Saudi and Tahaluf. The event drew 38,500+ attendees with Al Rajhi Bank participating as a founding partner alongside Visa and STC Bank.
• DrahimcoreTechnology or Integration · 3 September 2024Al Rajhi Bank acquired 65% stake in Saudi fintech startup Drahim, a regional first for a Saudi bank securing a majority stake in a local fintech company. Drahim obtained open banking license from SAMA in May 2026, becoming the first Saudi app to offer open banking services under official supervision. The partnership strengthens technological capabilities and targets expansion across investment and savings services aligned with Vision 2030 fintech goals.

Scale indicators13 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Kuwait Finance House: Major Shariah-compliant bank operating across retail, corporate, and investment banking in Kuwait and internationally. Closest direct peer given its global Islamic banking footprint and product breadth comparable to Al Rajhi.
• Dubai Islamic Bank: UAE's largest Islamic bank offering full Shariah-compliant retail, corporate, and treasury services with similar Murabaha, Ijara, and Mudaraba product mix targeting mass-market and affluent segments.
• Qatar Islamic Bank (QIB): Largest Islamic bank in Qatar providing retail, corporate, and investment banking under Shariah principles. Comparable scale, regional GCC positioning, and Shariah-compliant product strategy.
• Abu Dhabi Islamic Bank (ADIB): Major UAE Islamic bank offering retail, corporate, and treasury services through an extensive branch network. Comparable product suite including personal finance, auto, and home financing under Shariah structures.
• Saudi National Bank (SNB): Largest bank in Saudi Arabia by assets and a result of the NCB/Samba merger, competing directly with Al Rajhi across retail, corporate, and Islamic/conventional banking. Operates within the same Saudi regulatory framework.
• Riyad Bank: One of Saudi Arabia's largest banks by assets, competing head-to-head with Al Rajhi in retail and corporate banking and co-launching Google Pay/Wallet with Al Rajhi at Money20/20 Middle East.
• Meezan Bank: Pakistan's largest Islamic bank offering Shariah-compliant retail, corporate, and treasury services with similar digital banking focus and product breadth serving an emerging Islamic finance market.

Regional players

• Bank AlJazira: Saudi Shariah-compliant bank majority-owned by National Commercial Bank, competing directly in Saudi retail and corporate Islamic banking with a similar Shariah product offering.

Broad incumbents

• Emirates NBD: Largest conventional bank in the UAE with a significant Islamic banking arm and regional GCC presence. Co-participant in Al Rajhi's $1.92B syndicated loan facility and broader regional banking competitor.
• Maybank Islamic: Islamic banking subsidiary of Maybank Group, one of the largest Islamic banks globally by assets, providing comparable Shariah-compliant products across Southeast Asia. Co-lender with Al Rajhi in syndicated facilities.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/alrajhibank
• Xx.com/alrajhibank
• Instagraminstagram.com/alrajhibank
• YouTubeyoutube.com/channel/UCgR5ZkHC2oML7kN5Yx4Vv6g
• LinkedInlinkedin.com/company/alrajhibank

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries10 records

Funding overview

Funding rounds4 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments34 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Al-Rajhi Bank