Al Rajhi Bank controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2014
Final dismissal of September 11-related claims
Claims brought in U.S. litigation by September 11 victims and survivors against Al Rajhi Bank and related individuals were dismissed with prejudice. The U.S. Supreme Court’s June 30, 2014 order left that dismissal intact, bringing the claims against the bank to a final close.
2004
Defamation litigation involving The Wall Street Journal
Al Rajhi Bank sued The Wall Street Journal over reporting concerning monitoring of accounts because of terrorism-related concerns. The matter settled without the newspaper paying damages; the newspaper published a letter from the bank’s chief executive and stated that it had not intended to allege that the bank supported or financed terrorism.
2002
U.S. investigations into alleged terrorist-finance connections
U.S. authorities searched businesses and nonprofit organizations associated with the SAAR Foundation and the wider group of entities sometimes described as the Safa Group during Operation Green Quest. The investigation and subsequent reporting raised allegations concerning Al Rajhi family-linked entities and terrorist financing. Later federal subpoenas reportedly indicated that Al Rajhi Bank was not directly related to the entities searched.