alrajhi vank announces that it has obtained the approval from Saudi Central Bank “SAMA” for increasing its stake in Al-Rajhi Company for Cooperative Insurance (Al-Rajhi Takaful) to 35% of the company’s share as announced in Tadawul.

Mr. Waleed Al-Moqbel, CEO of the bank, said that this strategic step will further strengthen the bank's leading role and its active participation in achieving the objectives of the Kingdom's Vision 2030 through its contribution in developing the insurance and financial sector.

Al-Mogbel added that this initiative is one of the pillars of implementing the "Bank of Future" strategy and contributes towards achieving the "Un-Bank the Bank" identity launched by the bank that aims to provide more comprehensive financial product, covering clients’ needs in the insurance, financial and investment sectors together.

This reinforces the continued leadership of the bank in providing financial solutions to individuals, companies, government agencies and non-profit organizations, which contributes to the stability and growth of the bank’s business activities.