The
banks in Saudi Arabia are enjoying a booming period with the growth of population and the investment sectors. The
banks in Saudi Arabia are responsible for stabilizing the financial system of Saudi Arabia, although there has been a decline in foreign currency interchange activities. The presence of foreign banks in Saudi Arabia can be traced back to the year 1926 when Netherlands Trading Company opened its branch in the country. This linked Saudi Arabia with the global financial market and encouraged the growth of a healthy competition between indigenous banks.
The Saudi Arabian banks are highly efficient and have been providing excellent services in investment, mutual funds, policies, credit cards, debit cards and other financial issues. There are many banks in Saudi Arabia, which are spread all throughout the country. Some of the renowned banks in Saudi Arabia include:
- Riyad Bank
- Saudi British Bank
- National Commercial Bank
- Al-Jazeera Bank
- Al-Akami Bank
- International Bank
- Western Union
- Saudi Arabian Agricultural Bank
- Saudi Development and Industrial Corporation
- Al Rajhi Banking and Investment Corporation
- Arab National Bank
- Saudi American Bank
- Islamic Development Bank
- Saudi French Bank
- Saudi Investment Bank
- Al Bank Al Saudi Al Tejari Al Muttahed
- Saudi United Commercial Bank
- Faysal Islamic Bank of Bahrain
- Saudi Cairo Bank
