Islamic banking in Saudi Arabia
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In Saudi Arabia, there are currently 12 national banks as listed by the Saudi Arabian Monetary Agency (SAMA) [1] SAMA listed that eleven of these banks are currently working at the Saudi market - Industrial and Commercial Bank of China (ICBC) already got the licensed, but the bank has not started yet.[2]
National-Licensed Banks at Saudi Market:
- The National Commercial Bank
- The Saudi British Bank
- Saudi Investment Bank
- Alinma Bank
- Banque Saudi Fransi
- Riyad Bank
- Samba Financial Group (Samba)
- Saudi Hollandi Bank
- Al Rajhi Bank
- Arab National Bank
- Bank Al-Bilad
- Bank AlJazira
Foreign-Licensed Banks at Saudi Market:
- Emirates NBD
- National Bank of Bahrain (NBB)
- National Bank of Kuwait (NBK)
- Muscat Bank
- Deutsche Bank
- BNP Paribas
- J.P. Morgan Chase N.A
- National Bank Of Pakistan (NBP)
- State Bank of India (SBI)
- T.C.ZIRAAT BANKASI A.S.
- Industrial and Commercial Bank of China (ICBC)
National-Islamic banks at Saudi Market
Although there is a trend at the Saudi market, where the majority of banks looking forward to convert to full-fledged Islamic Banks; only four banks considered as pure-Islamic banks:[3]
- Al-Rajhi Bank Saudi Arabia
- Al Jazeera Bank
- Al-Bilad Bank
- Alnima Bank
References
- ^ http://www.sama.gov.sa/en-us/bankingcontrol/pages/localbanks.aspx
- ^ http://www.sama.gov.sa/en-US/BankingControl/Pages/ForeignBanks.aspx
- ^ BINTAWIM Samar Saud S.,(2011). "Performance analysis of Islamic banking: Some evidence from Saudi Arabian banking sector", Asia Pacific University, MBA Thesis, page 28