Al Rajhi Bank completes $3bn Tier 1 SR-denominated Sukuk subscription

Al Rajhi Banking and Investment Corp. has completed the offering and subscription of Tier 1 Sukuk. (Supplied)
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Updated 14 November 2022
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Al Rajhi Bank completes $3bn Tier 1 SR-denominated Sukuk subscription

RIYADH: Al Rajhi Banking and Investment Corp., the Kingdom’s largest valued bank, has completed the offering and subscription of Tier 1 Sukuk denominated in Saudi Riyals, valued at SR10 billion ($3 billion).

The rate of return is reset on Nov. 16, and is reset every five years following the first reset date, according to a bourse filing.

The sukuk allocation is expected to be completed by Nov. 13, and the settlement is scheduled for Nov. 16.

Surplus refunds will be provided to eligible investors on Nov. 16, after which the Sukuk will be listed and traded on the Saudi stock exchange, Tadawul


Saudi Arabia among top states in tech security with 99% score, says official  

Updated 21 December 2025
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Saudi Arabia among top states in tech security with 99% score, says official  

RIYADH: Programs and security initiatives launched by the Ministry of Interior have contributed significantly to improving quality of life in Saudi Arabia by generating high-quality data that supports planning and enables faster responses, placing the Kingdom in the global spotlight, Khalid Al-Bakr, CEO of the Quality of Life Program, told Al-Eqtisadiah. 

He noted that the Unified Security Operations Centers 911 in Riyadh, the Eastern Province, Madinah, and Makkah are among the Quality of Life Program’s initiatives implemented in partnership with the Ministry of Interior, producing data that helps develop plans and ensure swift responses to incidents. 

Al-Bakr added that technology has been integrated into security capabilities, including the use of body cameras for security personnel, which has helped maintain high levels of public safety. 

He highlighted that reporting violations or crimes via 911 has an average response time of just two seconds, describing it as a technological leap that serves residents and visitors alike and enhances trust in security services. 

The CEO of Saudi Arabia’s Quality of Life Program said the Kingdom ranks among the top countries globally in security technology, with a 99 percent rating, emphasizing that Saudi Arabia is a leader in leveraging advanced security technologies to serve residents and visitors, making it an attractive place to live and visit. 

Al-Bakr explained that the major transformation in the use of technology — particularly in services provided by the Ministry of Interior — has had a significant impact on quality of life, noting that accessing services such as passport or national ID renewal has become faster and more convenient, often available at the click of a button.