Saudi Arabia is an Arab Muslim state in the Middle East. Officially, Saudi Arabia called the Kingdom of Saudi Arabia which is a desert country. Saudi Arabia is bordered by Kuwait, Jordan, Iraq, Qatar, Oman, United Arab Emirates and Yemen. Also, the country has maritime borders with Egypt, Sudan, Iran and Bahrain. Saudi Arabia is the biggest country among all Arab countries. Its capital city is Riyadh and the official language is Arabic. Saudi Arabia has two holiest cities; one in Mecca and another is Medina. Mecca is the birthplace of the Prophet Muhammad. World’s biggest oil producer country called Saudi Arabia. Per day the country produces approximately 270 barrels oil.
The Saudi Arabian Monetary Authority (SAMA) is the Central Bank and central monetary authority of Saudi Arabia. The SAMA oversees and controls the commercial banks of Saudi Arabia. There are 12 local banks, 12 branches of foreign banks and 24 licensed banks in Saudi Arabia under the monitoring of SAMA. The SAMA is responsible for issuing currency, promoting price stability, maintaining foreign exchange reserves, ensuring the growth and stability of the local economical sector.
Saudi Arabian banks are divided into four types:
- Industrial Banks
- commercial Banks
- Real estate banks
- Agricultural banks
Read Also: List of Banks in Mauritius
The Saudi Arabian Monetary Authority
At a glance Saudi Arabian central bank information
Headquarters: Riyadh, Saudi Arabia
Established: 4 October 1952
Ownership: 100% state ownership
Governor: Ahmed Abdulkarim Alkholifey
Central bank of Saudi Arabia
Currency: Saudi riyal
Reserves: 603 990 million USD
List of All Banks in Saudi Arabia
- The National Commercial Bank
- The Saudi British Bank (SABB)
- Saudi Investment Bank
- Alinma bank
- Banque Saudi Fransi
- Riyad Bank
- Samba Financial Group (Samba)
- Alawwal bank
- Al Rajhi Bank
- Arab National Bank
- Bank AlBilad
- Bank AlJazira
- Gulf International Bank Saudi Arabia (GIB-SA)
Foreign-Licensed Banks in Saudi Arabia
- Emirates NBD
- National Bank of Bahrain (NBB)
- National Bank of Kuwait (NBK)
- Bank Muscat
- Deutsche Bank
- BNP Paribas
- J.P. Morgan Chase N.A
- National Bank of Pakistan (NBP)
- State Bank of India (SBI)
- T.C.ZIRAAT BANKASI A.S.
- Industrial and Commercial Bank of China (ICBC)
- Qatar National Bank (QNB)
- MUFG Bank, Ltd.
- First Abu Dhabi Bank (FAB)
- Trade bank of Iraq
- Standard Chartered Bank
- Credit Suisse Bank
For anyone considering a banking business in Saudi Arabia, this list of Saudi Arabia’s top banks provides you useful guidance on where to start. To learn more, please refer to our list of financial institutions.
Al Rajhi Banking Corporation Al Rajhi Bank Headquarters is located in the Capital city Riyadh. The bank provides household financial banking services, corporate banking investment solutions Islamic and personal services in Saudi Arabia. The bank has approximately 500 branches and 9000 employees are working constantly. The bank also has services in Malaysia, Kuwait and Jordan.
Arab National Bank The Arab National Bank was established in 1979 and its headquarters is located in the capital city Riyadh. The bank has approximately 4,400 employees serves 2 million customers through its 95 branches. It has regional offices in Jeddah and Khobar, and a branch in London. The bank business involves the following areas corporate banking, retail banking, treasury banking, investment and brokerage services, and others.
Alawwal Bank Alawwal Bank is one of the oldest banks in Saudi Arabia which was established in 1926. The bank operates through personal banking, corporate banking, investment banking, investment services and other related services. Riyadh based the bank has approximately 2600 employees serving the customers through 65 branches. In 2016, the bank changed its name and renamed Alawwal Bank from Saudi Hollandi Bank.
Alinma Bank Alinma Bank was established in 2006. The bank serving to its customers through 76 branches and offers banking and investment services all over Saudi Arabia. Its business covers various fields: corporate banking, retail banking, capital, investment and brokerage.
Banque Saudi Fransi Banque Saudi Fransi Bank was established in 1977 to provide customers with local and international banking services. The bank has approximately 3,000 employees serving to its customers through 83 branches in all over the kingdom. It is headquartered in Riyadh and has three regional offices in Jeddah, Riyadh and Al Khobar.
National Commercial Bank National Commercial Bank (NCB) was established in 1953 and its headquarters is located in Jeddah. The bank also is known as AlAhli Bank. It is the biggest bank in Saudi Arabia and is considered a pioneer in Islamic banking. The bank has approximately 8,035 employees and serves more than 5 million customers through its 374 branches in whole Saudi Arabia.
Riyadh Bank The bank was established in 1957 and its headquarters is located in Riyadh. It is one of the biggest financial organizations in Saudi Arabia. The bank provides retail and corporate customers with a wide range of products and services that fully comply with Islamic Shariah law.
Saudi British Bank Saudi British Bank headquarters is located in Riyadh and it was established in 1978. It is a Saudi joint-stock company and an associated company of the HSBC Group. The bank provides investment banking, commercial banking, private banking and Islamic banking services. It has a branch in London.
These are the best and top listed banks in Saudi Arabia. You can visit the site to get any kind of information. All the links and information are listed herewith.