Mr. Abdulrazzak M. Alkhraijy
Mr. Abdulrazzak Mohammed Alkhraijy is the Head of Shariah Group at The National Commercial Bank, the largest bank in Saudi Arabia and the leading financial services group in the region. He is an American educated Saudi banker, with over thirty years experience mostly in Islamic Banking. He has been with NCB since 1980 following his graduation from Macalester College, St. Paul, Minnesota, USA, with a B.A. degree in Economics and Business. He was appointed to his current role in January 2014.
Abdulrazzak's extensive career at NCB has carried him to various prominent positions and important areas of responsibility within the NCB Group. Working as deputy and branch manager in various locations in Jeddah from 1982 to 1985, he was then promoted to manage NCB's main branch, one of the most important positions in the Bank. He was also a member of various committees including the credit committee, the loans remedial committee, and the personnel committee.
In between 1987 and 1994, Abdulrazzak assumed the role of Regional Manager for the Western and Eastern regions. In 1994, he became Deputy Head of the Islamic Banking Division (IBD), undertaking the responsibility of setting up the division's business strategy, leading new product and service development besides determining the suitability of new investment opportunities for assets under management, as Head of Islamic Credit Committee.
In 1998 he was promoted to Head of IBD, a post he held until 2004. During his tenure in this position, he spearheaded the Bank's efforts to introduce the first capital preserved funds and Islamic equity investment guidelines in addition to launching the first Islamic credit card. Moreover, he introduced a range of new innovative Islamic funds that helped propel NCB's portfolio to become the leader in Islamic funds, both in terms of diversity and size and grew the Islamic Banking Corporate and Retail business. Abdulrazzak's assiduous handling of IBD business has enabled the division to become one of the top three contributors to the profit margins of the Bank.
As a result of the merger between Retail and Islamic Banking Divisions, the Islamic Retail Banking Davison was born and Abdulrazzak headed this area from 2004 until 2006. During this period, he grew NCB's Islamic Banking business by converting individual and regional branches into Islamic Banking. In December of 2006, he was appointed as Head of Islamic Banking Development Group to oversee all aspects related to Islamic Banking within NCB and some of NCB's Group subsidiaries. He is also responsible for maintaining and expanding NCB's position as the leader in Islamic finance, both at the retail and the corporate level; in addition to monitoring Shariah-compliance across NCB.
Besides his current role as head of Shariah Group, Abdulrazzak Alkhraijy is a member of NCB's Executive Management team and several high-level banking committees. He is also a board member of some local and international institutions.