About Aljazira Bank

Enabling financial wellbeing through trust, innovation, and Shari’ah-compliant banking excellence

 

Our Story - A Journey of Transformation

1975-1976: The Beginning

  • Founded by Royal Decree No. 46/M and established in Jeddah.
  • Began operations in October 1976, taking over the National Bank of Pakistan’s branches in Saudi Arabia.

1990s: The Restructuring Era

  • Major restructuring and modernization efforts began in 1992.
  • Returned to profitability in 1997, signalling a successful transformation.

1998-2002: A Defining Shift to Shari’ah Compliance

  • In 1998, Aljazira Bank’s Board made a landmark decision – to become a fully Shari’ah-compliant bank.
  • Formed a Shari’ah Advisory Board (SAB) of respected Islamic scholars to guide all operations.
  • By 2002, AlJazira Bank became one of the first banks in the Kingdom to operate 100% of its branches under Shari’ah principles.

2007-2009: Expansion and Growth

  • Officially became a fully Shari’ah-compliant financial institution.
  • Increased paid-up capital to 3 billion, all funded by profits.
  • Launched the ambitious AFAQ2012 Transformation Plan – a four-year roadmap to become a multi-specialist Islamic bank.
  • Doubled its retail branch network from 24 to 94 locations, improving accessibility across the Kingdom.
  • Enhanced digital banking, online services, and ATM infrastructure, shaping the foundation for today’s modern AlJazira Bank.

2002-2010: Pioneering Innovation

  • Introduced Takaful Taawuni (TT) – the first Shari’ah-compliant alternative to life insurance in Saudi Arabia.
  • TT quickly became a market leader, winning “Life Insurer of the Year” for three consecutive years.
  • Began adopting ISO certification to standardize service excellence and global best practices across all operations.

2010s: Digital Evolution and Human Growth

  • Expanded across corporate, SME, and investment sectors with innovative Shari’ah-compliant offerings.
  • Established Corporate Regional Offices in Riyadh, Jeddah, and Dammam to support businesses with tailored solutions.
  • Strengthened its investment arm, AlJazira Capital, becoming a leader in equity trading and fund management.
  • Invested heavily in human capital, raising the Saudization rate to 92% by 2017.
  • Built a culture grounded in performance, innovation, and partnership.

2018: Strengthening for the Future

Continued investments in digital transformation and customer experience modernization across retail, business, and corporate lines.

2020s: Modern Islamic Banking for a New Generation

  • AlJazira Bank continues to evolve as a digitally empowered, customer-driven Islamic bank.
  • Focus today: Wealth management, sustainable growth, financial wellbeing, and innovation rooted in purpose.
  • Through strategic programs like AlMasi and Premier Banking, and business solutions designed for agility, we continue to empower our clients and communities.

Today: A Partner for Progress

From personal banking to corporate finance, from wealth management to digital innovation – AlJazira Bank stands as one of Saudi Arabia’s leading Shari’ah-compliant institutions, trusted for its ethics, innovation, and partnership-driven service.

Our Legacy in Numbers

Established

1975 (Royal Decree No. 46/M)

Capital

12.81 Billion

  • 1992-1994: The Bank’s capital was raised with participation of Saudi shareholders.
  • 2007: Capital rose to 3 billion.
  • 2017: Strengthened to 5.2 billion via bonus shares.
  • 2018: Expanded to 8.2 billion via rights issue.
  • 2024: Capital increased to 10.25 billion.
  • 2025: Achieved new milestone with capital reaching 12.81 billion.
Branches

90+ across the Kingdom

Saudization Rate

92%

A Legacy of Growth and Confidence

Reflecting the Bank’s resilience, vision, and long-term commitment to sustainable expansion.