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# Al Rajhi Bank Acquires 65% Stake in Saudi Fintech Drahim in Open Banking Deal
- URL: https://www.theglobalbanker.com/al-rajhi-bank-acquires-65-percent-stake-saudi-fintech-drahim-open-banking/
- Published: 2024-09-03T08:00:00.000Z
- Updated: 2026-10-02T14:39:09.000Z
- Description: Al Rajhi Bank has taken a 65% majority stake in Drahim, the first acquisition of a controlling interest in a local fintech by a Saudi bank.
- Author: TGB Editorial Team
- Tags: M&A, MENA, #archive

Al Rajhi Bank has acquired a 65% stake in Drahim, a Saudi-based digital financial platform. The deal represents the first time a Saudi bank has taken a majority ownership position in a local fintech startup.

The acquisition gives Al Rajhi direct access to Drahim's open banking application programming interfaces and robo-advisory capabilities. 

Separately, Al Rajhi had already fully acquired Ejada Systems Company Ltd, an IT services firm, in 2022\.