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Business, Banking & Finance, Economy

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Al Rajhi Bank appoints Abdullah Al Rajhi as chairman

Al Rajhi Bank is Saudi Arabia's second-largest lender by assets.
By TRENDS Desk
November 28, 2023 1:23 am
  • Al Rajhi Bank is also the world’s largest Islamic bank by assets and market capitalization.
  • It said in a regulatory filing that it also named Ibrahim bin Mohammed Al Romaih as vice chairman.

RIYADH, SAUDI ARABIA – Al Rajhi Bank said on Monday that it has appointed Abdullah bin Sulaiman Al Rajhi as chairman of the board of directors.

The bank said in a regulatory filing on the Tadawul that it also named Ibrahim bin Mohammed Al Romaih as vice chairman.

Al Rajhi Bank is Saudi Arabia’s second-largest lender by assets.

It is also the world’s largest Islamic bank by assets and market capitalization.

Earlier in April 2023, Emirates NBD has successfully priced a US$1 billion Senior Unsecured Sustainable Sukuk for Al Rajhi Bank.

The five-year Sukuk which was priced at a reoffer yield of 4.774 percent generated strong demand, attracting orders of over US$3.75 billion.

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