The COVID-19 Pandemic Effect on the Performance of the Islamic Banking Sector in KSA: An Empirical Study of Al Rajhi Bank

15 Pages Posted: 27 Apr 2021

See all articles by Yasser Saleh Ali Almonifi

Yasser Saleh Ali Almonifi

Dr Babasaheb Ambedkar Marathwada University

Shakeel ul Rehman

Department of Management Studies

Rafia Gulzar

Dar Al Uloom University - College of Business

Date Written: April 26, 2021

Abstract

The aim of this study is to assess the impact of the COVID-19 pandemic on the performance of the Islamic banking sector in the Kingdom of Saudi Arabia. Several issues arose in the financial sector around the world after the COVID-19 crisis. The study looks at Al Rajhi Bank's progress before and during the COVID-19 pandemic. Al Rajhi Bank is one of the largest banks in the Kingdom of Saudi Arabia and the world, with $ 80 billion in deposits, $ 6.77 billion in paid-up stock, and a large employee base. The findings show that the COVID-19 crisis had only a minor impact on Saudi Arabia's Islamic banking system, especially the bank under investigation, and that Islamic banks are capable of escaping the financial and economic risks associated with the crisis. Islamic banks are distinguished from other commercial banks by their ability to respond quickly to crises such as economic and financial shocks.

Keywords: COVID-19 crisis, Islamic Banking, Financing Risks, Assets, KSA Banking Sector, Al Rajhi Bank

Suggested Citation

Almonifi, Yasser Saleh Ali and Rehman, Shakeel and Gulzar, Rafia, The COVID-19 Pandemic Effect on the Performance of the Islamic Banking Sector in KSA: An Empirical Study of Al Rajhi Bank (April 26, 2021). Available at SSRN: https://ssrn.com/abstract=3834859 or http://dx.doi.org/10.2139/ssrn.3834859

Yasser Saleh Ali Almonifi

Dr Babasaheb Ambedkar Marathwada University

Shakeel Rehman (Contact Author)

Department of Management Studies ( email )

Islamic Univ of Sci & Tec. Awantipora-192122, J&K
India
Awantipora, Jammu and Kashmir 192122
India
9622602121 (Phone)

Rafia Gulzar

Dar Al Uloom University - College of Business

P. O. Box 3535
Riyadh, 13314-7222
Saudi Arabia

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