Company Research Report: Bank AlJazira

Company Overview

Name

Bank AlJazira

Mission

إثراء الحياة من خلال الرفاهية المالية (Enhancing lives through financial well-being)

Date of Foundation

No information is available

Founded by

No information is available

Key People

Naif bin Abdul Karim Al-Abdul Karim - CEO and Managing Director

Badr Al-Buqmi - Senior Vice President and Head of Marketing and Customer Excellence Group

Ibrahim bin Abdullah Al-Omar - Senior Vice President and Chief Operations Officer

Sami bin Judaan Al-Mohaid - Senior Vice President and Head of Corporate and Institutional Banking Group

Faisal bin Mashhoor Al-Mansour - Senior Vice President and Head of Human Capital and Institutional Support Group

Dr. Fahad bin Ali Al-Olayan - Senior Vice President and Head of Shariah Group and Sustainability and Social Responsibility Group

Mohammed bin Abdulrahman Al-Mousa- Senior Vice President and Head of Retail Banking Services Group

Abdulaziz bin Suleiman Al-Zumam - Senior Vice President and Head of Internal Audit Group

Hamad bin Ibrahim Al-Essa - Senior Vice President and Head of Compliance and Financial Crimes Group

Hani bin Abdul Wahab Arki - Senior Vice President and Head of Treasury Group

Bader Ahmed Al-Roshoudi - VP and Head of Customer Protection and Experience Management

Hani bin Salah Noori - Senior Vice President and Chief Financial Officer

Naham Basa - Senior Vice President and Head of Strategy and Digital Transformation Group

Yazeed bin Abdullah Al-Mubti - Chief Credit Officer

Sultan bin Saud Al-Qahtani - Senior Vice President and Secretary General of the Board of Directors and Head of Governance Group

Osama bin Khudr Al-Ibrahim - Senior Vice President and Head of Risk Management Group

Headquarters

Jeddah, Saudi Arabia

Number of Employees

No information is available

Revenue

No information is available

Known For

Bank AlJazira is known for being a leading Shariah-compliant financial institution offering a broad range of banking and financial services.

Products

Product Categories

Accounts

Current accounts

Savings accounts

Credit Cards

Flexible and varied cards catering to diverse needs

Loans

Home loan (Bayti Housing Finance Program)

Personal loans (Various personal financing programs)

Investment Services

Brokerage

Trading services

Insurance

Takaful (Islamic insurance)

Key Features of Each Product

Current Accounts: Comprehensive banking services focused on client convenience.

Credit Cards: Multiple credit card options offering flexibility and catered to meet various customer needs.

Home Loan Programs: Facilitation of home ownership in compliance with Shariah law.

Personal Loans: Diverse personal finance options adhering to Shariah principles.

Investment Services: Brokerage and trading services provided through the subsidiary, AlJazira Capital.

Insurance: Insurance products compliant with Islamic principles, including Takaful services.

Recent Developments

New Products and Features

New Financing Agreement: A financing agreement signed with Arasco for SAR 200 million.

SME Financing Agreement: A joint financing agreement with the Small and Medium Enterprises Bank.

New Credit Facility Agreements: Credit facilities with First Gulf Company and the Unified Group Holding.

Participation in Global AI Summit: Recognized for sponsoring events at the Global Artificial Intelligence Summit.

Partnerships

Strategic Partnership: Collaboration with Insead School of Business to enhance investment in human capital.

Partnership with Trade and Export Saudi Bank: Agreement for documentary credit insurance.

Collaboration with Sadaia: Recognition received from the Saudi Data and Artificial Intelligence Authority.

Business Initiatives

Riyadh Housing Program Launch: Introduction of a new housing finance initiative.

Future Leaders Program: Launch of the Future Leaders Program.

Revenue Growth

Increased Profits: 10% increase in profits reported in the first half of 2022.

Awards and Recognitions

2022

Recognition for AI Summit Sponsorship

Future Leaders Program Launch

10% Profit Increase in H1 2022

Strategic Partnership with Insead

2019

Islamic Innovation Bank Award

Best Credit Card Award in Saudi Arabia

Most Innovative Bank in Electronic Banking Award

Corporate Governance Excellence Award

Gold Medals in Customer Contact Center Competition, Barcelona

Historical Recognitions

Best Islamic Consumer Banking Award

Outstanding Arabian Donor Organization (Manah)

Excellence in Corporate Governance and Service Quality Awards

Subsidiaries and Affiliates

AlJazira Capital: Investment and securities services

Aman Real Estate: Real estate and mortgage services

Aman Insurance Agency: Insurance product marketing

AlJazira Securities Limited: Financial derivatives and cash market transactions

Summary

Bank AlJazira is a significant financial institution in Saudi Arabia, known for its commitment to Shariah-compliant banking and financial services. With a strong leadership team, diverse product offerings, and ongoing strategic initiatives, it continues to make essential contributions to both the financial sector and community development in Saudi Arabia.