Saleh Abdul Aziz Al Rajhi

Saleh Abdul Aziz Al Rajhi (1921 – February 12, 2011)[1][2] was the founder of, and owner of the second largest individual stake in, the Al-Rajhi Bank, which has consistently reported the most profitable operations amongst all of Saudi Arabia's banking groups.

Beginning in the 1930s with younger brother, Sulaiman, Saleh Al Rajhi set up a foreign exchange agency used by pilgrims traveling to Islam's Holy Cities of Makkah and Madinah. In later years, they were joined by brothers, Abdullah and Mohammed and diversified their into real estate, trading, construction, manufacturing, etc. although banking and finance remain their primary source of family wealth.

The Al Rajhi family is considered, by most in Saudi Arabia, as the country's wealthiest non-royals, and among the world's leading philanthropists.

Saleh Al Rajhi's retired in the early 1990s leaving his vast business interests to be managed by his sons and grandsons.

The eldest member of the powerful Al Rajhi clan, he had the second-largest shareholding in the family's Al Rajhi Bank (see also: Sulaiman Bin Abdul Al Rajhi, Abdullah Abdul Aziz Al Rajhi, Mohammed Abdul Aziz Al Rajhi); group's share price skyrocketed 89% over the past year. A family holding company, Saleh Abdulaziz Al Rajhi Partners, lists his 61 children, 22 sons and 39 daughters from seven wives, as shareholders.

See also

References

  1. ↑ Saleh Abdul Aziz Al Rajhi's obituary (Arabic)
  2. ↑ "Founder of Al Rajhi Bank Sheikh Saleh passes away". The Saudi Gazette. 13 February 2011. Retrieved 9 March 2011.
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