Our history and operations The Bank commenced operations in 1977 pursuant to a Royal Decree dated June 22, 1976. In 1983, the Bank adopted the SAIB name and moved into commercial banking. The Al Asalah Islamic Banking brand, through which the Bank provides Shariah-compliant products and services, was launched in 2006. Islamic principles form the core of all the Bank’s operations and our Shariah Committee ensures adherence to Shariah principles in our product development. SAIB offers wholesale, retail, and commercial banking products in the Kingdom of Saudi Arabia, both Shariah-compliant and traditional. The Bank also provides its services to the government, quasi-government, corporate, and MSME sectors. Our finance operations offer a range of non-interest-bearing banking products including Murabaha, Istisna’a, and Ijarah. Our product portfolio also includes several treasury and investment banking products.
Our joint ventures and subsidiaries expand our range of products and services to include investment banking, share trading, asset management, leasing finance, mortgage finance, brokerage services, corporate finance services, and credit card services. The Bank’s network includes 52 branches, of which 49 operate as Shariah compliant branches within the Kingdom. As of December 31, 2020, the Bank operated a network of 368 ATMs and over 9,800 point of sale (POS) terminals.
Our Vision
To offer the simplest and most accessible products and services to each of our customers.
- We make banking simple and accessible for each of our customers.
- We are flexible, adaptive, and responsive to deliver what suits our customers.
Our Vision
Mr. Abdulatif Ali Alseif
Chairman of the Board
The founder and CEO of Sab’een Investment Company, he holds a bachelor’s and Master’s degree in Business Administration from Boston University in the United States, a Master’s degree in Economics from the same university, and the Certified Public Accountant (CPA) and Chartered Financial Analyst (CFA) certifications. He has held several leadership positions at Saudi Aramco, King Abdullah University of Science and Technology, and MASIC Company, and then became the CEO of AlRa’idah Investment Company. Prior to joining the Saudi Investment Bank, he served on Board of Directors and the Audit Committee of AlRajhi Bank, and he is currently involved in board memberships and committees in listed and unlisted companies.
Member of the Board of Directors at the Bank since February 14, 2025.