Al Rajhi Bank is a Saudi Arabian bank and the world’s largest Islamic bank by capital as per the 2015 report. The bank is a prime investor in Saudi Arabia’s business and is one of the largest joint-stock companies in Saudi Arabia, with over SR 330.5 billion in AUM and over 600 branches.
The banking system has become an inevitable part of our society. People’s interest increasing and we can see many new banks open every year. People go to the bank and open their accounts.
They deposit their wealth for the future and in some cases, banks give them annual interest.
But the annual interest is prohibited in Islam, so many banks launched Islamic banking and Al Rajhi is one of them.
As a salaried person, a bank account can be a useful tool to save money for the future, and Al Rajhi Bank of Saudi is one of them. Al Rajhi is one of the biggest banks in Saudi Arabia, provides amazing services to its customers.
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Al Rajhi Bank
Al Rajhi is playing an essential role in the growth of Saudi Arabia’s economy. It is founded in 1957 and the first branch started its work in Riyadh. It has a total worth of SR 384 billion (US$ 102 billion), so that’s why Al Rajhi is the largest Islamic bank in the world.
Al Rajhi has a wide network of 546 branches across KSA with a strong and competitive team of 96000 employees. They opened their first ladies branch in 1979 in AlShmaisi and now has 142 ladies’ branches across KSA. They installed 5,190 ATM’s, and 106,080 POS terminals all over Saudi for customers’ help. They provide the best services and products to their customers for their financial needs.
What Benefits Al Rajhi Offers
As a hub of trade and business, every bank of Saudi tries to make its space and win the public trust. They give many kinds of facilities and introduce many features regarding the opening of a bank account. Like others, Al Rajhi bank knows how to get people’s attention. There are many benefits if you open an account. You can open your account anytime you want and can select the branch you wish to deal with.
You can get a monthly statement in both Arabic and English and you can easily perform banking transactions without the online banking system. With their Self-Service Machines, you can get an ATM card whenever you want that gives the facilities of Local Transfers And Deposits. You can also pay utility bills and Sadad.
Al Rajhi gives you access to the Al Mubasher banking system also. Depending on the account permissions, you can transfer the money internationally. With ATMs, you can withdraw and deposit your cash.
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How to Open Account in Al Rajhi?
It offers the facility of an open online bank account without visiting any nearest branch. You can create a bank account and perform bank transactions by following a few steps mentioned below:
Step:1 Visit the official website of the Al Rajhi bank by Click Here.
On the top right corner, you will see the option ” Open Account”.
Step:2 A page will appear on your screen with the terms and conditions and the form as shown below.
Step:3 Read carefully all terms and tick on the “I agree” option.
Note: You must be more than 15 years and have a valid national ID card/Iqama Number. The applicant should have a valid email and national mailing address also.
Step:4 On your registered mobile number, you will receive a code (a verification code will be received).
Step:5 Select your personality title.
Step:6 Select your monthly income with different given options.
Select:7 Select one maximum expected transaction per month.
Step:8 Click “Next”
Step:9 After entering all information, the bank will send you a verification code on your mobile number.
Documenting your information with Absher.
Step:10 Once you complete, the account opening process will be started and the bank will send you an SMS with your account information.
When you will be an account holder of bank Al Rajhi, you can get all benefits regarding banking services.
For the issuing of an ATM Card, visit the online web portal or nearest branch and get help with self-service machines.
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I have worked for several years in Saudi Arabia as an expatriate. So I know how dificult it is to manage all the documents and formalities for a common worker in KSA. This is reason I started to write all these articles to help expats in KSA. I hope you enjoy my content.