Al Rajhi Banking

What Al Rajhi Banking does

Al Rajhi Banking & Investment Corporation (Malaysia) Bhd, operating as Al Rajhi Bank Malaysia, is a Kuala Lumpur-based full-fledged Islamic bank and wholly-owned subsidiary of Saudi Arabia-listed Al Rajhi Banking & Investment Corporation (Tadawul ticker: 1120). Established in 2006, the bank serves retail consumers, affluent customers, and corporate clients across Malaysia with a comprehensive suite of Shariah-compliant financial products and services, governed by an internal Shariah Board and aligned with the Shariah Advisory Council of Bank Negara Malaysia. The Malaysian entity operates with 1,001–5,000 employees and relocated its headquarters to Integra Tower in February 2026, marking its 20th year of operations.

The bank's product portfolio spans Shariah-compliant deposits (savings, current, DuitPlus, and commodity murabahah term and foreign currency accounts), financing products (personal, home via the SJKP scheme, and corporate), Shariah-compliant credit cards, and wealth management offerings including gold investments (Gold-i, GoldInvest-i), unit trusts, BancaTakaful/Sinar Kasih, structured products, will writing, and safe deposit boxes. A premium "Diamond Affluent" tier serves high-net-worth customers maintaining a minimum Total Relationship Balance of RM1 million. Technology infrastructure runs on the cloud-native Thought Machine Vault Core platform, supporting the MY alrajhi mobile banking application and the Rize digital bank sub-brand as the primary digital acquisition and servicing channels.

Al Rajhi Bank Malaysia generates revenue primarily through profit margins on Shariah-compliant financing, fee-based banking services, and the deployment of customer deposits into Shariah-compliant investments. Distribution follows a hybrid model: physical branches support relationship-based affluent and corporate banking, while the MY alrajhi app and Rize platform drive product-led acquisition of mass-market retail customers. The Malaysian entity is privately held under its listed Saudi parent, does not have disclosed standalone revenue figures, and does not accept external funding.

Name

Al Rajhi Banking

Legal name

Al Rajhi Banking & Investment Corporation (Malaysia) Bhd

Website

https://alrajhibank.com.my

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Al Rajhi Bank Malaysia is a Kuala Lumpur-based full-fledged Islamic bank and wholly-owned subsidiary of Saudi-listed Al Rajhi Banking & Investment Corporation, providing Shariah-compliant deposits, financing, credit cards, and wealth management to retail, affluent, and corporate customers across Malaysia.

Ownership category

akta.pro rank

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 SME & Commercial Banking (FSABAGAB), Islamic Corporate Banking (FSABAGAC), Islamic Private Banking & Wealth (FSABAGAD), Shariah-compliant Financing Products (Murabaha, Ijara, Tawarruq, Istisna, Salam) (FSABAGAH), Islamic Deposit & Account Products (Current/Savings/Investment Accounts) (FSABAGAI)

Keywords

• Islamic banking services
• Shariah-compliant financing
• Deposit products
• Wealth management
• Digital banking

Headquarters

HQ city

Kuala Lumpur

HQ country

Malaysia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Islamic Financing: Al Rajhi Bank provides Shariah-compliant financing including home financing, personal financing, and corporate financing through murabahah and wakalah structures. The bank earns profit from these financing activities.
2. Deposits and Savings: Accepts customer deposits including savings accounts, current accounts, and term deposits. Generates revenue through prudent deployment of deposits into Shariah-compliant investments and financing.
3. Credit Facilities: Provides credit facilities to corporate and retail customers, earning profit/margin on structured commodity murabahah financing and other Shariah-compliant lending products.
4. Banking Fees and Charges: Generates fee income from various banking services including account maintenance, transactions, and service charges.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

Al Rajhi Bank Malaysia provides a full suite of Shariah-compliant retail, affluent, and corporate banking services, including deposits (savings, current, commodity murabahah term deposits), personal and home financing, credit and debit cards, wealth management (Gold-i, unit trusts, BancaTakaful, structured products, will writing, safe deposit boxes), and business banking (corporate financing, Alrajhi Cashbiz cash management, treasury deposits). The bank delivers these through a dual digital-and-branch model anchored by the MY alrajhi mobile app and the Rize digital bank, all under multi-layered Shariah governance.

Product overview

Al Rajhi Bank Malaysia operates as a full-fledged Islamic bank offering a comprehensive suite of Shariah-compliant banking products and services. The bank provides a dual-channel digital banking experience through its MY alrajhi mobile platform and Rize digital bank sub-brand. The core product portfolio spans personal deposits (savings, current, and term deposit accounts using commodity murabahah structures), financing solutions (personal, home, and corporate financing), credit cards, and wealth management products (gold investments, unit trusts, takaful, structured products, will writing, and safe deposit boxes). Business banking services include corporate financing, cash management via Alrajhi Cashbiz, and treasury deposits. The bank targets both mass market and affluent customers (Diamond Affluent program requiring RM1 million minimum balance), and distributes third-party investment products through partnerships with Manulife Investment Management and AHAM Capital. All products are governed by Shariah principles overseen by an internal Shariah Board and the Shariah Advisory Council of Bank Negara Malaysia.

Differentiator

Problem solved

Functional benefit

Brands

• Rize: Digital virtual bank brand offering online savings accounts, deposits, and financial services with awards including 'Malaysia's Best Virtual Bank of the Year'.
• MY alrajhi
• Diamond Affluent

Quantifiable outcome

• Return on Equity increased to 10.65% in H1 2025
• +1 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Thought MachinecoreTechnology or Integration · 24 February 2025Al Rajhi Bank Malaysia partnered with Thought Machine using its Vault Core platform to launch digital banking offerings. This enables cloud-native banking capabilities with compressed implementation timeframes, supporting the bank's digital transformation strategy.
• Radisson Hotel GroupminorGTM or Marketing Partner · 1 January 2025Al Rajhi Bank partnered with Radisson Hotel Group to enable seamless points conversion across the Radisson Rewards loyalty program with over 27 million members. The partnership expands the bank's global banking network as part of its strategy to provide lifestyle banking benefits to customers.
• AHAM CapitalminorGTM or Marketing Partner · 27 August 2023Al Rajhi Bank Malaysia partnered with AHAM Capital to offer the Gold-Price-Tracked Fund, expanding its wealth management product offerings for customers.
• TheNoorminorGTM or Marketing Partner · 16 June 2023Al Rajhi Bank Malaysia partnered with TheNoor, a Shariah-guided Muslim lifestyle app, as Official Bank Partner, providing banking integration for Muslim lifestyle financial needs.
• Manulife Investment Management (M) BhdminorGTM or Marketing Partner · 19 April 2023Al Rajhi Bank Malaysia partnered with Manulife Investment Management to offer the Manulife Shariah Global REIT Fund, providing customers access to the first Shariah Global REIT Fund in Malaysia.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• CIMB Islamic: Islamic banking subsidiary of CIMB Group, one of Malaysia's largest banking groups. Competes directly across retail financing, deposits, and corporate Islamic banking with extensive ASEAN regional presence.
• Maybank Islamic: Islamic banking arm of Malayan Banking Berhad, the largest bank in Malaysia. Directly competes with Al Rajhi Bank Malaysia across retail, corporate, and wealth Islamic banking segments with significantly larger scale and broader distribution.
• Kuwait Finance House (Malaysia): Malaysian subsidiary of Kuwait Finance House, a major Gulf-based Islamic banking group. Highly comparable as a foreign Islamic bank subsidiary operating in Malaysia with similar international Islamic banking DNA.
• Bank Islam Malaysia Berhad: Malaysia's first standalone Islamic bank and a pure-play Shariah-compliant competitor. Directly comparable business model with full Islamic banking product suite, targeting similar retail, corporate, and wealth segments.
• Bank Muamalat Malaysia: Standalone Islamic bank in Malaysia offering a full suite of Shariah-compliant products. Direct competitor in retail deposits, financing, and wealth management with similar positioning in the Malaysian Islamic banking market.
• Public Islamic Bank: Islamic banking arm of Public Bank Berhad, one of Malaysia's largest retail banks. Competes directly in Shariah-compliant retail deposits, personal financing, and wealth management with strong domestic branch network.
• AmBank Islamic: Islamic banking arm of AMMB Holdings (AmBank Group). Provides Shariah-compliant retail, SME, and corporate banking products in Malaysia, directly comparable to Al Rajhi's offering across customer segments.
• RHB Islamic Bank: Islamic banking subsidiary of RHB Banking Group. Competes across retail, SME, and corporate Islamic banking segments in Malaysia with comparable full-fledged Shariah-compliant offerings.

Broad incumbents

• HSBC Amanah Malaysia: Islamic banking arm of HSBC in Malaysia. Offers Shariah-compliant retail, wealth, and corporate banking services as part of a global banking franchise, comparable to Al Rajhi's international Islamic banking positioning.
• Standard Chartered Saadiq (Malaysia): Islamic banking arm of Standard Chartered in Malaysia. Offers Shariah-compliant banking products targeting affluent and corporate segments as part of a broader international banking portfolio.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/alrajhimalaysia
• LinkedInlinkedin.com/company/arbmy

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries2 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Al Rajhi Banking