Founded in 1957, Al Rajhi Bank is one of the largest Islamic banks in the world with total assets of SR 384 billion (US$ 102 billion), a paid up capital of SR 25 billion (US$ 6.66 billion) and an employee base of over 9,600 associates. With over 58 years of experience in banking and trading activities, the varions individuel establishments under the Al Rajhi name were merged into the umbrella 'Al Rajhi trading and exchange corporation' in 1978 and it was in 1988 that the bank was established as a Saudi share holding company. Deeply rooted in Islamic banking principles, the Sharia compliant banking group is instrumental in bridging the gap between modern financial demands and intrinsic values, whilst spearheading numerous industry standards and development. With an established base in Riyadh, Saudi Arabia, Al Rajhi Bank has a vast network of over 570 branches, over 152 dedicated ladies branches, more than 5,190 ATM's, 106,000 POS terminals installed with merchants and the largest customer base of any bank in the Kingdom, in addition to 232 remittance centers across the kingdom. The first men's branch was opened in Aldirah in 1957, with the first ladies branch being opened in AlShmaisi in 1979.