The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.


All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Banking

Islamic finance awards 2008: Best Islamic bank in the Middle East

Al Rajhi Bank


As a retail operation, Al Rajhi Bank is already one of the leading Islamic banks. It is the world’s largest Islamic lender and had assets worth $33 billion at the end of September 2007. Now, though, it is adding corporate and investment banking to its armoury and is becoming a force to be reckoned with across all products. The decision to develop a wholesale banking business has not been taken lightly: it has taken Al Rajhi almost 50 years to change its model.

Abdullah Sulaiman Al Rajhi (right), chief executive of the world’s largest Islamic lender

Abdullah Sulaiman Al Rajhi (right), chief executive of the world’s largest Islamic lender

Throughout the past year, Al Rajhi has been building the relevant teams and is starting to win business. At the beginning of 2008 the bank won a $450 million financing facility for Saudi Telecom, the Kingdom’s biggest phone company.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree