Al Rajhi Bank overview
Al Rajhi Bank is one of the largest Islamic banks in the world and the largest bank in Saudi Arabia by assets. It is licensed by the Saudi Central Bank (SAMA) and offers Sharia-compliant retail and corporate banking products through a large branch and ATM network across Saudi Arabia and several other markets.
What to compare across Saudi Arabia bank accounts
GCC retail banking has its own quirks compared with European or North American norms. When you compare Al Rajhi Bank with other providers, run through this checklist before deciding:
- -Salary transfer rules. Many GCC banks require a monthly salary transfer above a stated threshold to waive fees or unlock perks. If you are self-employed, a freelancer, or on an investor visa, check whether the account accepts non-salary funding.
- -Minimum balance. Some accounts levy a fee if the balance drops below a published minimum. Confirm the threshold and how it is measured (average vs end-of-month).
- -International transfer charges. Compare both the explicit fee and the exchange-rate spread. The cheapest cross-border path is often a dedicated remittance provider funded from the local account.
- -Card network and rewards. Check which network the debit or credit card runs on (Visa, Mastercard, Mada in KSA) and which rewards or cashback actually apply to spend outside the country.
- -Onboarding requirements. Confirm the list of documents (residence permit, passport, proof of address, salary certificate) so you do not turn up missing one.
- -Branch and ATM coverage. Digital-first banks save fees but rely on partner ATMs for cash. If you handle a lot of cash, check the network.
- -Support hours and channels. A bank you can reach by chat at 2am behaves very differently from one with call-centre hours only.
How GCC retail banking works for expats
All retail banks in Saudi Arabia are supervised by the country's central bank. The supervision sets capital requirements, consumer-protection rules, and anti-money-laundering controls - it does not endorse any specific product. To verify a bank's licence, look it up on the central bank's public register (linked in the Official sources section below).
Expat onboarding in the region typically requires an active residence permit, a passport, and a proof of address. Some account tiers also ask for a salary certificate from your employer or proof of source of funds for self-employed applicants. Account-opening flows have moved largely online, but a small number of products still require a branch visit - check Al Rajhi Bank's own onboarding page for the current process.
Deposit insurance and consumer-protection arrangements vary by country. Confirm what cover applies in Saudi Arabia before holding large balances at any single institution.
Al Rajhi Bank quick facts
Source: editorial review. Confirm current terms on the bank's own website.
| Minimum balance | See the Al Rajhi schedule of charges |
| Monthly fee | See the Al Rajhi schedule of charges |
| Card type | Mada debit; Visa and Mastercard credit cards available on eligible products |
| Salary transfer required | Varies by product |
What stands out
- +Licensed by the Saudi Central Bank (SAMA)
- +Sharia-compliant retail and corporate banking
- +Large branch and ATM network across Saudi Arabia
- +Al Rajhi mobile banking app with onboarding for eligible products
- +Apple Pay and mada Pay supported on eligible cards
General process for opening a bank account
- Visit Al Rajhi Bank's website or download its app and start the account-opening flow.
- Provide identity documents - typically a government-issued ID, a passport copy, and proof of address.
- Complete any KYC questions the bank asks (employment status, source of funds).
- Wait for verification. Timelines vary by bank and applicant.
- Fund and activate your account following the bank's instructions.
Frequently asked questions
- Where do I check Al Rajhi Bank's licence?
- Look up Al Rajhi Bank on the Saudi Central Bank (SAMA) - Licensed Entities. The link is in the Official sources section below.
- What documents are usually required to open a bank account in Saudi Arabia?
- Banks in the GCC typically request a valid government-issued ID (Emirates ID, National ID), a passport copy, proof of address, and may ask for a salary certificate or recent payslip. Exact requirements vary by bank and account type - confirm on the bank's own website.
- Can I open a Al Rajhi Bank account online?
- Onboarding options vary by bank and product. Check Al Rajhi Bank's own website or app for the current application flow.
Official sources
Verify Al Rajhi Bank's licence status on the Saudi Central Bank (SAMA) - Licensed Entities.