The traditions of European banking originated in Arab countries. In ancient times, speculative trade was copied by European merchants. Usury and speculation in countries living under Sharia law are now prohibited.
At the beginning of the 20th century, Arab financiers tried not to pronounce the word “bank” and replaced it with synonyms, for example, with the word “institution.”
Saudi Hollandi Bank has been providing loans to individuals and businesses. The profit on investments was legal and was considered payment, commission for the service.
In 1939, the financial situation in Saudi Arabia changed; large oil deposits were discovered. This brought a considerable income to the budget of the Kingdom. There has been an enormous demand for highly paid qualified oil engineers and expensive technical equipment.
King of Saudi Arabia Abdul Aziz introduces the Saudi riyal, a single monetary unit. The construction of an updated financial system begins.
In 1976, the Saudi rial was pegged to the US dollar. The value of the national currency of the Kingdom has been officially fixed, for one American dollar paid 3.75 riyals. This ratio is still maintained.
The hectic financial activities of Saudi Hollandi Bank began in the second half of the 20th century. Branches are opening in Mecca, Jeddah, Al Khobar, Medina, Katif. The Bank is becoming one of the most important financial institutions in Saudi Arabia.
In 2017, Saudi Hollandi Bank became known as Alawwal Bank, which means “first” in Arabic. In 2019, Alawwal Bank was acquired by one of the largest global banks, Saudi British Bank.
Shares of the combined Saudi British Bank in early August 2019 were quoted at 38.10 Saudi riyals per share. In terms of the American dollar, this amount corresponds to USD 10.
You can purchase shares of Saudi Hollandi Bank, or Alawwal Bank, by registering on the Tradeallcrypto platform; choose Trading with tradeallcrypto.top, tools of Saudi British Bank.
|Citigroup||Stock Citigroup - course and charts||6||72.03|
|Manchester United||Stock Manchester United - course and charts||10||16.91|
|Exxon Mobil||Stock Exxon Mobil - course and charts||6||55.87|
|NIKE||Stock NIKE - course and charts||6||172.25|
|Santander group||Stock Santander group - course and charts||8||3.74|
|COCA-COLA||Stock COCA-COLA - course and charts||6||57.4|
|JPmorgan Chase and CO||Stock JPmorgan Chase and CO - course and charts||6||158.86|
|MICROSOFT||Stock MICROSOFT - course and charts||6||294.58|
|Chevron||Stock Chevron - course and charts||6||100.84|
|Banque Saudi Fransi||Stock Banque Saudi Fransi - course and charts||25||40.73|
|Stock Facebook - course and charts||6||366.51|
|Arab National Bank||Stock Arab National Bank - course and charts||15||22.89|
|BOEING||Stock BOEING - course and charts||10||228.97|
|Saudi British Bank||Stock Saudi British Bank - course and charts||10||33.53|
|General Electric||Stock General Electric - course and charts||6||103.27|
|FERRARI||Stock FERRARI - course and charts||10||225.65|
|Riyad Bank||Stock Riyad Bank - course and charts||8||27.28|
|AMAZON||Stock AMAZON - course and charts||24||3297.94|
|Goldman Sachs Group||Stock Goldman Sachs Group - course and charts||6||408.01|
|Deutsche Bank||Stock Deutsche Bank - course and charts||8||12.65|
|Saudi Electricity||Stock Saudi Electricity - course and charts||6||27.33|
|Saudi Investment Bank||Stock Saudi Investment Bank - course and charts||8||17.03|
|Tesla Motors||Stock Tesla Motors - course and charts||14||686.01|
|Intel||Stock Intel - course and charts||10||53.39|
|WalMart||Stock WalMart - course and charts||6||150.63|