Bank AlJazira

Bank AlJazira was founded in 1976 and is a commercial bank of the Kingdom of Saudi Arabia. Bank AlJazira’s financial services: attracting bank deposits, leasing financing, currency exchange, treasury services, lending for organizations, and individuals.

Since 1998, Bank AlJazira has been practicing exclusively Islamic banking.

The Royal Decree established bank AlJazira in November 1396, which corresponded to 1976.

The founder of Bank AlJazira and AlJazira Television Company was businessman Saleh Abdullah Kamel. In 2017, Saleh Abdullah Kamel was arrested on corruption charges.

Since 1998, Bank AlJazira has been conducting its financial activities exclusively as an Islamic bank. There is a ban on usury, speculation, and the abandonment of futures transactions. Because in the traditions of Islam, “games with time” are forbidden.

Sharia financial structures operate in 105 countries of the world. The annual growth of Sharia banking in Islamic countries was about 17% and was estimated at over two trillion dollars.

Bank AlJazira’s growing success

Bank AlJazira was recognized as the best private financial institution in the Kingdom of Saudi Arabia in 2015.

In the first quarter of 2019, Bank AlJazira Bank shares rose 0.35% and added 21.29% profit to its 2018 figures.

Net income for the first quarter of 2019 reached 263.3 million riyals. In US national currency, this number corresponds to the amount of USD 70.21 million.

The main reason for the growth in Bank AlJazira’s revenue is considered to be an increase in loans by 3% compared with the figures for the last quarter of 2018. The total profit of Bank AlJazira for the first quarter – 749.9 million rials.

Bank AlJazira’s net profit at the end of the first quarter of 2019 increased by 7% due to an increase in income from banking operations by 8%.

According to the research of Karim Kehia, a financial analyst at Arqaam Capital, the growth in the value of Bank AlJazira’s securities will continue. The management of Bank AlJazira plans to increase its income from participation in the profitable sectors of defense, healthcare, and entertainment.

How to become a shareholder of Bank AlJazira?

Bank AlJazira’s shares at the end of the first quarter of 2019 increased by 0.35% and cost 17.32 riyals, which corresponded to 4.8 dollars. In early August 2019, Bank AlJazira’s shares were trading at the price of SAR 15.0. This amount corresponds to 4 dollars.

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