Abdullah Al Rajhi Net Worth is$2.2 Billion
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Profession: Businessperson
Abdullah Al Rajhi net worth: Abdullah Al Rajhi is a Saudi Arabian billionaire who has a net worth of $2.2 billion. Abdullah Al Rajhi, along with his brothers Sulaiman, Mohammed and the late Saleh, is one of the founders of Al Rajhi Bank more than 50 years ago. Abdulah served as the CEO and Managing Director of one of the largest banks in the Islamic world from 2008 to 2012. While today he only holds the positions of Vice Chairman and Non-Executive Officer. But he is a billionaire thanks to his stake in the bank with Head Office in Riyadh and six other Regional Offices, as well as 24 branches across Malaysia. In addition to his stake in Al Rajhi Bank, he also holds interests in Al Baraka Banking Group, an Islamic bank founded by his fellow billionaire Saleh Kamel. But that's not all, as he also owns shares in few more cement and agriculture companies. All of the above makes him one of Saudi Arabia's richest people.
The Al-Rajhi Bank (Arabic: U??u??U? ??U????????-U?a??) (known as the Al Rajhi Banking and Investment Corporation until a 2006 name change is the world's largest Islamic bank, and a major investor in Saudi Arabia's business world. It is one of the largest joint stock companies in the Kingdom, with a paid up capital of SR 6.75 billion. Its Head Office is located in Riyadh and there are six Regional Offices. Al-Rajhi Bank has 24 branches in Malaysia.
Banking and trading activities began 1957. In 1398 H (1978) the individual establishments were merged into "Al Rajhi Trading and Exchange Corporation" and in 1404 H (1987) it was converted into a joint stock company under the royal decree No. 59, dated 3/11/1407. In 5/4/1409 H, the company was renamed to Al-Rajhi Banking and Investment Corp under the ministerial decision No. 1398, and was re-branded, in February 2006, to Al-Rajhi Bank, but is still registered as Al-Rajhi Banking and Investment Corp.
Al-Rajhi Bank's shareholding pattern show that the four sons of Abdul Aziz Al Rajhi (Saleh, Sulaiman, Abdullah and Mohammed) and their heirs remain the corporation's primary equity holders. The Al Rajhi family is considered, by most in Saudi Arabia, as the country's wealthiest non-royals, and among the world's leading philanthropists.[citation needed]
Al-Rajhi Bank is considered as one of the largest banking corporations in the kingdom with a capital base funded at 100% beginning at SR 750 million, which was then increased to SR1.5 billion, then to SR2.25 billion, then to SR4.5 billion (March 2005) then to SR6.75 billion (March 2006) and finally to SR13.50 billion (March 2007).
In 2006 - nearly after 50 years of operation solely within Saudi Arabia - the bank launched in Malaysia, signifying its first forey into international banking. Following the Saudi business model which adheres closely to the deeply rooted Islamic banking principles, the Sharia-compliant banking group is planning to be instrumental in bridging

Abdullah Al Rajhi Latest News

Al Othaim, Almarai top picks among consumers: Al Rajhi Cap

Almarai Co. and Abdullah Al Othaim Markets Co. have topped Al Rajhi Capital’s list of relatively safer stocks, as they have high/ near complete exposure to non-discretionary products, the firm said in a report on the Saudi consumer sector. Given the ...
Posted: October 10, 2016, 5:00 pm

Zamzam black market flourishes with vendors finding loopholes

MAKKAH — Vendors of Zamzam water said they have found a way to sell Zamzam without being caught. Abdullah Al-Rajhi said he sells Zamzam water bottles in batches near King Abdullah Zamzam Water Project in Makkah. “I have people who go in and buy a bunch ...
Posted: July 10, 2016, 2:31 pm

TABLE-Saudi Arabia Q3 earnings estimates

(Repeats without any changes to the text) Oct 12 (Reuters) - ABDULLAH ABDUL MOHSIN AL KHODARI SONS CO ... AL RAJHI BANK - Following are third-quarter net profit estimates for Al Rajhi Bank in millions of riyals. Q3 2016 %change EFG Hermes 2093.75 ...
Posted: October 19, 2016, 10:02 pm
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