Al Rajhi Bank had a busy 2022, arranging 12 high-profile transactions in the Saudi riyal and US dollar debt capital markets.
Those deals involved issuers ranging from the Kingdom of Saudi Arabia to UAE sovereigns and corporates. They also included Al Rajhi’s own groundbreaking perpetual sukuk issuance. This transaction is the first publicly offered sukuk issued by a bank in Saudi Arabia. It drew bids from more than 126,000 investors.
This interest was testament to the franchise that Al Rajhi has built up steadily over the decades. It was also, as chief executive Waleed Al-Mogbel argues, proof of investors’ strong confidence in the bank’s capabilities to structure, manage and distribute sukuk.
Bloomberg data ranks Al Rajhi number one in the kingdom’s sukuk debt capital markets.
It helps that the bank has one of the best banking networks in the Middle East, giving it unique reach both in domestic and international sukuk markets.
Al Rajhi is an Islamic banking leader, with assets of SR469 billion ($125 billion). Its global presence is supported by industry-leading products, investment advice and research. Al Rajhi’s ability to harness these attributes to deliver customized investment strategies make it a winner. Equally impressive is the compactness of the operation. Al Rajhi Capital has just 16 offices across the kingdom and roughly 230 investment professionals.
In many ways, Al Rajhi’s rise mirrors that of the kingdom itself. Its deeply rooted Islamic banking principles make it instrumental in bridging the gap between modern financial practices and Shariah values. Its strong adherence to ethical financial standards has made it a regional benchmark as the industry matures.
The bank’s council of Shariah law scholars has one of the strongest reputations in the industry. They actively monitor all local and international operations to ensure compliance across divisions, teams and asset classes.
The bank is at the vanguard of efforts to increase awareness of the Islamic banking and investment sectors around the world
Al Rajhi is a leader in developing contracts that, from a Shariah law standpoint, maintain the fairness and efficiency of banking transactions. The bank is also at the vanguard of efforts to increase awareness of the Islamic banking and investment sectors around the world.
The bank is also a financial sector leader in helping realize the kingdom’s Vision 2030 objectives to drive sustainable development and diversify the economy. This means supporting the growth of the private sector and innovative small and medium-sized enterprises that will hasten the greening of the nation.
