Al Rajhi Bank announces that it has successfully completed the issuance of Saudi Riyal denominated Tier 1 Sukuk. The issuance marks the largest issuance by a financial institution in the Kingdom of Saudi Arabia and the first of its kind in the bank’s history. Due to the significant investor demand, the bank has decided to increase the issuance size to an aggregate principal amount of SAR 6.5 billion, a total of 6,500 Suk and with a fixed profit rate of 3.5% per annum.

The Chairman of Al Rajhi Bank, Mr. Abdullah Suliman Al Rajhi, has expressed his appreciation for the success of the issuance and extended his gratitude to the participant investors of qualified individual investors, corporates, and financial institutions. The issuance size which is considered the largest by a financial institution in the Kingdom and the diversity of investors were evident in the order book, as the number of participants has reached an unprecedented number of more than 600 investors, which reflects the valuable trust in Al Rajhi Bank. He also revealed that the qualified individual investors’ orders have been fully allocated which constitutes 38% of the total issuance, as an initiative to diversify the investor base by furthering the integration and participation of qualified individual investors in the local Sukuk market, contributing to the goals of the Kingdom’s Vision 2030 through the Financial Sector Development Program, which aims to diversify the sources of income and stimulates the investment climate.  

The Chairman expressed his appreciation and gratitude to Al Rajhi Capital Company for their excellent management of the issuance as the sole lead manager and bookrunner, cementing their position as a pillar in the local Sukuk market.

Mr. Abdullah Suliman Al Rajhi concludes by thanking the bank’s clients for their continued loyalty and the investors for their trust in the bank, and noted the bank’s commitment to continue to provide the best Islamic financial solutions that comply with Shari’ah principles. 

It is noted that Al Rajhi Bank has announced on 3 January 2022 the commencement of offer through private placement of its SAR denominated Sukuk, aiming to support its core equity base and fulfill its financial and strategic needs.


Send us your press releases to

© Press Release 2022

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.