alrajhi bank adheres to the principles of Shariah law in all its banking operations. A single entity council of Shariah scholars has been established and approved by the general council to oversee and monitor all bank transactions. The reason behind it is that the bank deems it one of the highest requirements to meet while providing clients with products and services.
- The council of Shariah scholars' function is to monitor all local and international operations of the bank and determine whether they comply or not with Shariah law.
- The operational management at all levels is responsible for upholding the regulations set forth by the council of Shariah scholars.
- No products or services are approved for bank clients without being reviewed by the council of Shariah scholars first. Thus, since its formation, incorporating forms, contracts, and other agreements, the Sharia Council has issued 1216 so far.
- Developing formulas and contracts that, from a Shariah law standpoint, maintain the fairness of banking transactions.
- Implementing appropriate methods to increase Islamic awareness in the banking and investment sectors.
- All Shariah law position banking operations and applications are overseen by the authority's affiliated Sharia Supervision Council, and whatever the Council determines is appropriate for this purpose.
- Ensuring that the bank's employees are carefully chosen, with special emphasis paid to Shariah training for all the bank's affiliates.
- Ensuring that work outputs are aligned with Shariah’s laws with easiness on the application process of it.
His Excellence Sheikh Dr Abdulaziz Bin Hameen Al Hamain
His Excellence Sheikh Sulaiman bin Abdullah Al-Majed
His Excellence Sheikh Dr. Saad bin Turki Al-Khathlan
His Eminence Sheikh Dr. Saleh bin Abdullah Al Lohaidan
Member & Secretary
His Excellence Sheikh Dr. Abdullah bin Nasser Al Salmi