SULAIMAN AL RHAJI

SULAIMAN AL RHAJI

BIOGRAPHY

          Sheikh Sulaiman bin Abdulaziz Al Rajhi was born 1920 in Al Bukairiyah, located in Al Qassim province in Saudi Arabia, and grew up in the Nejd desert where he and his brother Saleh began their business by changing money for pilgrims taking camel caravans across the desert to the cities of Mecca and Median.

         Sulaiman Abdulaziz Al Rajhi holds the largest individual stake in his family's Al Rhaji Bank, which has consistently reported the most profitable operations amongs all of Saudi Arabia's banking groups. A co-founder of the bank , with older brother, Saleh, he is currently the chairman of what is nationally recognized as the Tawadul's most venerable institution.

         The Al Rajhi brothers’ business growth and expansion was fed by the flood of migrant workers to Saudi Arabia during the 1970s oil boom. The Al Rajhi helped them send their earnings home to places like Indonesia and Pakistan. In 1983, the brothers won permission to open Saudi Arabia’s first Islamic bank, one that would observe religious tenets such as a ban on interest.

          The Al Rajhi family continue to be Al Rhaji Bank's majority share holders though Sulaiman and his brothers have diversified family investments into gypsum, agriculture, steel, and other industrial sectors.His higher educational degree was elementary degree. He lives in Saudi Arabia and has at least 23 children

         while he was already reaching more than 90 years, Sulaiman Al Rajhi still active in managing his business matters.

 Entrepreneurial Traits:

1. Networked :

•           One of the entrepreneurial trait that can be identified is networked. 
•           Al-Rajhi Bank has a total of 570 branches across the world. 
•           In  2006, Al Rajhi Bank has opened a branch in Malaysia and 25 of its bank                   branches  have been opened so far, 15 in the Klang Valley, one each in Johor,             Malacca, Penang, Ipoh, Kota Bharu, Kuantan, Kuching, Sg , Farmers and Kota             Kinabalu. 
•           Al Rajhi Bank has also been awarded several international awards.
•           This show that  Sulaiman Al Rhaji has many networked. 

     2. Open Culture :

•  The starting point for Islamic banking, through a media interview made by Muhammad   Al-Harbi of Al-Eqtisadiah Business Daily, Sulaiman Al Rajhi has told how in more  than 30 years ago, he decided to meet with the manager of the Bank of England talk  about Islamic banking.
• He stressed that a 'benefit' is illegal usury of both Islam and Christianity, and Islam recommends banking as the best solution to upgrade the global economy. 
• Once the ideas and facts discussed is accepted, he then has to go to around the world to meet with heads of state bank and tell them how the features available in the world of Islamic economics.
• Islamic banking has the support of the mufti, Sheikh Abdul Aziz Bin Baz then began to be accepted in the eyes of the world and held in an Arab country and also in the city of London.
• This show that Sulaiman Al Rhaji use an open culture.

      

      3. Visionary :

•  Something that Sulaiman Al Rhaji had learned in his early years in business, is to      be punctual. 
•  He never met her date for an employee in Europe was canceled only because he  missed a couple of minutes for the appointments.
•  Since the incident, he has disciplined himself to be punctual.
•  Wherever he goes, he also often carry a small notebook to record his daily activities.
•  Then,he will always refer to his note book to make sure he does not forget any events  or appointments have been scheduled.
•  This show that Sulaiman Al Rhaji is a visionary person.

      4. Observant :

•  His firmness  with Islamic principles are feared, once he was out of a dinner to know  there's entertainment program at the dinner.
•  After the cancellation of the entertainment program, and after being picked up again  by the minister concerned before he rejoined the dinner.
• That show Sulaiman Al Rhaji is very observant person.

   

       5. Outcomed Oriented :

• Shows by Sulaiman Al Rhaji when In May 2011, Sulaiman Al Rajhi has cast this question to a group of businessmen in front of him. 
• In the same month, the world was shocked by his announcement to transfer most of his wealth was estimated by Forbes to be worth USD 7.7 billion to the children he and most of the rest to charities and welfare.
• With the help of relevant agencies, distribution of property stocks and real estate business including hers was successfully conducted and thus makes him human being 'poor' again and just stay 'homeless'. 
• Said Sulaiman Al Rajhi, who chooses this path, has made his soul to become more relaxed and happy.
•  He thinks he is in charge of all his wealth, and eternal owner is God By making the distribution of wealth, he is also able to avoid the seizure of property and subsequent hostilities among her children if she left the world without the prior distribution of wealth.