Early Life

Sheikh Sulaiman bin Abdulaziz Al Rajhi was born in 1346 AH / 1927 CE in Bukayriyah, a town in the Qassim region of Saudi Arabia. He was raised in a modest family under difficult financial conditions and was the third among his siblings: Saleh, Abdullah, and Mohammed.

Entrepreneurial Journey

From an early age, Sheikh Sulaiman was passionate about work and commerce, viewing them as keys to personal success. Endowed with determination, courage, and a deep desire for learning, he sought to innovate and stand out rather than follow traditional paths.

He began working in 1358 AH / 1939 CE in various small jobs such as selling kerosene, firewood, guarding market stalls, and carrying goods—moving from one opportunity to another to earn a living.

In 1365 AH / 1945 CE, he joined his brother Saleh in business, a partnership that lasted until 1376 AH / 1956 CE. During this time, Sheikh Sulaiman engaged in currency exchange and trade, gradually building his capital to establish his own ventures.

In 1377 AH / 1957 CE, he rented a shop in Jeddah and partnered again with his brother from 1377 AH to 1390 AH (1957–1970). In 1391 AH / 1971 CE, they amicably dissolved the partnership.

By 1392 AH / 1972 CE, he expanded his currency exchange business by opening multiple branches in Jeddah and beyond, simultaneously venturing into real estate. His reputation for trust and integrity grew rapidly among clients and traders, both locally and internationally.

Establishment of Al Rajhi Company

In 1398 AH / 1978 CE, Sheikh Sulaiman and his brothers founded Al Rajhi Exchange and Trading Company, focusing on currency exchange, accepting deposits, real estate, and building materials. The company quickly gained recognition and became the only private exchange company to obtain clearinghouse membership from the Saudi Arabian Monetary Authority (SAMA).

Committed to ethical and Sharia-compliant business practices, Sheikh Sulaiman worked toward establishing an Islamic banking system. Despite initial rejection, he successfully convinced the Bank of England to license a consultancy office in 1402 AH / 1981 CE after a personal meeting.

The Birth of Al Rajhi Bank

After more than six years of consultations, the company transformed into a public joint-stock company—Al Rajhi Banking & Investment Corporation—in 1988. Overseen by a dedicated Sharia Supervisory Board.

Investment Expansion

Driven by a vision of integrated development across sectors, Sheikh Sulaiman expanded his personal investments through a private office, launching high-quality companies in finance, real estate, agriculture, food, and industry. These ventures flourished under his leadership, supported by qualified family members and professional teams.

In 1430/1431 AH (2009/2010 CE), Sheikh Sulaiman conducted a full assessment of his wealth, distributing half of it to his family and dedicating the other half as an endowment for the sake of Allah.

Founding of the Endowment and its Institutions

In 1432 AH / 2011 CE, he established Sulaiman Al Rajhi Holding Company, the investment arm managing the endowment’s assets. The official endowment deed was issued under number 32133934 on 15/6/1432 AH.

Institutional Philanthropy

Initially, Sheikh Sulaiman’s charitable efforts focused on direct aid to the needy. With the evolution of charitable work in Saudi Arabia, his contributions were channeled through official organizations.

Later, upon consulting religious and community leaders, he founded specialized institutions to manage philanthropic projects. This led to the establishment of Sulaiman bin Abdulaziz Al Rajhi Charitable Foundation (license no. 10, dated 19/6/1421 AH), the first private philanthropic grant-making foundation in Saudi Arabia.

Other major initiatives followed, including Sulaiman Al Rajhi Endowment Foundation (now Al Manara Advanced Company) and Sulaiman Al Rajhi University in Bukayriyah.

Recognition and Legacy

Sheikh Sulaiman’s impact in philanthropy and business was widely recognized. In 2000, he received the King Abdulaziz Medal (First Class) for his outstanding contributions. In 2012, he was honored with the King Faisal International Prize for his remarkable charitable efforts.

Today, the Sulaiman Al Rajhi Endowment stands as a powerful model of sustainable giving, embodying Sheikh Sulaiman’s ethical leadership and vision. His legacy continues to inspire future generations of entrepreneurs and philanthropists.