Early Life
Abdullah bin Sulaiman Al Rajhi was born on January 20, 1958, in Saudi Arabia. His early life and upbringing are rooted in the Nejd desert, where his family started their business ventures. He comes from a family that is well-regarded within Saudi Arabia.
Rise to Success
Al Rajhi's career began in the banking sector, with his career taking off when he joined Al Rajhi Bank. He graduated from King Abdulaziz University with a bachelor's degree in business administration in 1979. Over his 35+ year career, he rose through the ranks, holding positions such as Deputy General Manager for Financial Affairs, CEO, and ultimately, Chairman. His leadership has been instrumental in Al Rajhi Bank's growth and transformation. He is also a board member and chairman of various investment, industrial, and charitable companies.
Key Business Strategies
Under Abdullah Al Rajhi's leadership, Al Rajhi Bank has focused on several key strategies, including a strong emphasis on Islamic banking principles. Al Rajhi has been crucial in expanding Al Rajhi Bank's operations, including the establishment of branches in Kuwait and Jordan, and a subsidiary in Malaysia. The bank has also diversified its focus, including expansions into mid-corporate and small and medium-sized enterprise (SME) business.
Philanthropy
Al Rajhi is also known for his significant contributions to philanthropy. In May 2011, he announced he was donating most of his $7.7 billion fortune to charity. He established the Sulaiman Al Rajhi University, a non-profit institution focused on health and Islamic banking.