Our History

The late Sheikh Saleh Abdul Aziz Al Rajhi (1921 – 2011) stands as a towering figure in Saudi Arabia’s business landscape, renowned for his pioneering contributions to Islamic banking and philanthropy.

Born in Al-Bukayriyah in the Qassim region of Saudi Arabia, Saleh Al Rajhi was the eldest son. His early years were marked by determination, hard work and entrepreneurial ventures with a humble beginning in the local marketplace of Riyadh. In late 1930s, Al Rajhi’s entrepreneurial ambitions emerged when he started trading scrap items, which laid the groundwork for future endeavors.

By 1947, he established a formal currency exchange shop in Riyadh along with his younger brothers. This partnership sowed the seeds for what would become the Al Rajhi Bank, formally established in 1957. The bank, under his stewardship, evolved into the largest Shariah-compliant Islamic bank in the world.

Beyond banking, Sheikh Saleh Al Rajhi’s business acumen extended to other sectors of the economy including, real estate, agriculture, and construction. Sheikh Saleh held executive positions in numerous companies, including Riyadh Chamber of Commerce, National Agricultural Development Company, and the Central Electricity Company.

His agricultural initiatives of Al Batin and Durma Projects is recognized by the Guiness Book of World Records as the largest palm tree project in the world. These projects not only contributed to Saudi Arabia’s agricultural output but also demonstrated his commitment to Saudi Arabia and social responsibility.

In his later years, he established a foundation to ensure the continuity of his philanthropy, thereby institutionalizing his charitable legacy. This foundation supported various causes he had championed during his lifetime, ensuring that his impact would endure beyond his death in 2011.

Sheikh Saleh’s legacy is multifaceted. His story is one of remarkable perseverance, innovation, and generosity, embodying the transformative potential of visionary entrepreneurship. Sheikh Saleh Al Rajhi’s life journey from a modest background to becoming a titan of industry and a beacon of philanthropy continues to inspire generations in Saudi Arabia and beyond.

Tamasuk AlRajhi, the family office of Sheikh Saleh Abdul Aziz Al Rajhi, is committed to continue his legacy. The family members are determined to contribute to Vision 2030 of Saudi Arabia by investing into various entrepreneurial ventures and making a long-lasting impact to the future generations of Rajhi family by institutionally investing, preserving and growing the wealth across various sectors and asset classes.