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Bank AlJazira
Bank AlJazira is a Saudi bank that offers Shari'ah-compliant banking products and services to individuals and businesses.
Bank AlJazira is a Saudi bank that runs its entire business according to Islamic finance rules. That means it does not simply lend money and charge interest, because interest is forbidden under Shari'ah. Instead, it structures deals so the bank buys an asset, shares risk, or earns a profit on a sale or lease, and those profits take the place of interest.
For ordinary customers, that shows up as everyday banking with an Islamic twist: current and savings accounts, home and car financing, credit cards, and personal loans built as Shari'ah-compliant products. For companies, it offers business accounts, trade finance, project financing, and treasury services. Its main subsidiary is AlJazira Capital, which handles investment banking and brokerage, so the group serves both people who want a mortgage and companies that need to raise money or manage cash. The bank makes its money from the gap between what it earns on financing and investments and what it pays depositors, plus fees from banking services, cards, and investment products. Its customers choose it partly for religious reasons — they want their money handled in a way that fits their faith — and partly because it is a full-service bank with branches, mobile banking, and corporate relationships. It competes with other Saudi banks, especially the big Islamic-focused ones, and with the Islamic windows of conventional banks. Bank AlJazira has been listed on the Saudi Stock Exchange since 1975, making it one of the older names in Saudi banking. It is smaller than the giants like Al Rajhi Bank and Saudi National Bank, so it competes more on service and niche strength than sheer size. Like all Saudi banks, its fortunes are tied closely to the kingdom's economy, oil prices, and the government's big spending plans, which drive demand for corporate loans and mortgages. It pays a dividend to shareholders and, from time to time, has bought back its own shares, a way of returning cash to investors when the bank has more than it needs for growth.
The simple version: Bank AlJazira is a middle-sized Saudi bank whose whole pitch is doing banking the Islamic way, and it earns its keep by financing homes, cars, and businesses without ever charging interest.
Saved answer · last researched 12 Nov 2026