GRI 102-1, 102-2, 102-6, 102-7
Our Vision
To offer the simplest and most accessible products and services to each of our customers.
Our Mission
Towards our customers
- We make banking simple and accessible for each of our customers.
- We are flexible, adaptive, and responsive to deliver what suits our customers.
- We listen to our customers and understand their needs and preferences in order to evolve and improve.
Towards our employees
- We value ideas, inputs, and initiatives.
- We empower our staff to bring out their best and go the extra mile.
- We recognise individual contribution and we support individual development.
- We enhance team spirit, which allows us to collectively build the smartest solutions.
Our history and operations
The Bank commenced operations in 1977 pursuant to a Royal Decree dated June 22, 1976. In 1983, the Bank adopted the SAIB name and moved into commercial banking. The Al Asalah Islamic Banking brand, through which the Bank provides Shariah-compliant products and services, was launched in 2006. Islamic principles form the core of all the Bank’s operations and our Shariah Committee ensures adherence to Shariah principles in our product development.
SAIB offers wholesale, retail, and commercial banking products in the Kingdom of Saudi Arabia, both Shariah-compliant and traditional. The Bank also provides its services to 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.
Our joint ventures and subsidiaries expand our range of products and services to include investment banking, share trading, asset management, leasing finance, mortgage finance, brokerage services, corporate finance services, and credit card services.
The Bank’s network includes 52 branches, of which 49 operate as Shariah compliant branches within the Kingdom. As of December 31, 2020, the Bank operated a network of 368 ATMs and over 9,800 point of sale (POS) terminals.
The Group
GRI 102-7, 102-16
The Saudi Investment Bank
The Bank has three subsidiary companies,
all of which are 100% owned by the Bank
Alistithmar for Financial Securities and Brokerage Company (ICAP)
Brokerage, asset management, investment banking and other services within the Kingdom.
The Saudi Real Estate Company
Limited liability company of which the main activity is to hold real estate assets given to the Bank as collateral.
SAIB Markets Limited Company
Incorporated in Cayman Islands and trades in derivatives and Repo activities on behalf of the Bank.
In addition, the Bank has investments in the following three associate companies
American Express (Saudi Arabia)
Issuing and handling of credit cards and other American Express products in the Kingdom.
Ownership 50%
Saudi Orix Leasing Company
Primarily deals in lease financing services.
Ownership 38%
Amlak International for Finance and Real Estate Development Company
Offers real estate products and services.
Ownership 22.4%
Our sustainability framework
SAIB’s sustainability framework encompasses five Islamic principles which have been crafted to integrate our commercial responsibilities with our social and environmental responsibilities. They also reflect Islamic principles of good governance and management.
Hifth (Environmental protection)
SAIB will build a competitive advantage by embedding environmental management into the Bank’s core activities and continuously de-materialising banking. SAIB will be a model of the competitive environmental practices the Saudi Arabian Government is seeking for the benefit of the Kingdom.
Awn (Helping others)
SAIB will measure not only the amount of money it invests but the extent and effectiveness of its impact.
SAIB will narrow and focus its investments in areas where it can contribute money, tools, and expertise.
Nummow (Growth)
We aim to deliver strong financial performance for our shareholders by executing our growth strategy while maintaining a disciplined approach to financial stability.
Re’aya (Workforce)
SAIB will be the most sought-after Bank to work for, owing first and foremost to its clear transparency and accountability to both its employees and society.
Takleef (Responsibility)
SAIB will be recognized by customers, investors, employees and the public as the most genuine, integrity based, value driven, and, accountable Bank in Saudi Arabia.
GRI 102-12
Vision 2030 is the overarching framework that drives the aspirations, policies, and plans of the Kingdom today. The Vision is founded upon three themes: a vibrant society, a thriving economy, and an ambitious nation. With many of the goals of Vision 2030 being either directly connected with finance or having a financial implication, SAIB plays a role in the Vision with its contributions.
A vibrant society
Vision goals |
SAIB contribution |
| Living by Islamic values |
The Islamic principles of Hifith, Awn, Nummow, Rea’ya and Takleef. |
| Focusing our efforts to serve Umrah visitors |
Financing of general infrastructure. |
| Living healthy,
being healthy |
Promoting via the Bank’s social media channels a healthy life with all Stakeholders,, with a focused emphasis in 2020 of keeping safe during COVID-19. |
| Developing our cities |
Urban infrastructure project finance. |
| Achieving environmental sustainability |
The Bank’s Building Management System continues to show a reduction of water and electricity consumption across all of the Bank’s premises. |
| Caring for our families |
Emphasis on work life balance. |
| Caring for our health |
Supported the Kingdom-wide cause for all citizens and residents to observe COVID-19 protocols. |
A thriving economy
Vision goals |
SAIB contribution |
| Learning for work |
Launched the Learning Management System: SAIB Knowledge, for all staff to improve skills and capabilities across various fields. |
| Boosting our small businesses |
Grew the funding of SMEs. |
| Attracting talent |
Enhanced focus in 2020 to recruit talented young Saudi staff. |
| Supporting our national companies |
Continue to procure services from local Saudi owned businesses.
Usage of local suppliers. |
An ambitious nation
Vision goals |
SAIB contribution |
| Embracing transparency |
SAIB Code of Conduct and Whistleblowing Policies. |
| Engaging everyone |
Using all the Bank channels to communicate regularly with all stakeholders. |
| Being responsible for our lives |
Keeping safe during the COVID-19 pandemic. |
| Being responsible in business |
Bank policies for the protection of all stakeholders. |
| Being responsible to society |
Customer Awareness activities. |
