The Bank commenced business in 1977, pursuant to a Royal decree dated June 22, 1976. It concentrated on medium-term financing of industrial projects. In 1983, with the adoption of the SAIB name, the Bank moved into full commercial banking. The ALASALAH Islamic Banking Brand, through which the Bank provides Shariah complaint products and services was launched in 2006. Islamic principles are at the heart of all our operations. Adherence to Shariah principles in product development is assured by our Shariah Committee.
SAIB provides wholesale, retail and commercial banking products in the Kingdom of Saudi Arabia, both Shariah-compliant and traditional. In addition to personal banking, the Bank services the government, quasi-government, corporate and MSME sectors. Our finance operations offer a range of non-interest-bearing banking products including Murabaha, Istisna’a and Ijarah. Our product portfolio also includes several treasury and investment banking products.
An even wider range of products and services is provided through our joint ventures and subsidiaries, such as investment banking, share trading, asset management, leasing finance, mortgage finance, brokerage services, corporate finances services and credit card services.