Al-Sharhan Exchange Company was established in 2015. The first branch was opened at the international Departure Flight Hall of the King Fahd International Airport in Dammam for the purpose of serving international travelers only, and then the second branch was opened at the arrivals hall at King Fahd International Airport to serve all customers. The company adheres to the code of ethics, which is an official expression of the basic ethical principles, which is applied to all employees regardless of their department or level of responsibility, as it aims at directing the employees towards the right way without leaving everyone to act on his own way.
All various banking policies have also been merged under one umbrella in the company to turn into a high-quality and accurate business approach to meet the needs of all customers at the highest possible standards of service. The said policies are represented in the so-called “Know Your Customer” principle and combating money laundering and terrorist financing.
In line with the Kingdom’s vision 2030, the company has developed a plan for the Saudization of all jobs which was started since 2019 according to which the company has achieved a Saudization rate of 98%. Now the company has a Saudi team operating on one team-working spirit. Since the company is mainly based on the principles of Islamic banking, it has thus played a fundamental role in bridging the gap between the requirements of modern banking on the one hand and the core values of Islamic Sharia on the other side, thus forming reliable investment and development standards.
The company also enjoys the confidence of its customers who were and still constitute the partners in the success of its business. As its capital initially reached two million Saudi riyals, then it was subsequently increased to five million Saudi Riyals, after the approval of the Saudi Arabian Monetary Authority to transfer the company from a sole proprietorship to a joint company, The company is also proud that it has a wide network of clients exceeding 128,000 clients between natural legal persons up to date, with whom more than one million transactions have been made such as buying and selling. It is worth noting that the sales achieved by the company exceeded one billion and three hundred million Saudi Riyals putting the sales of the company to more than one billion and two hundred million Saudi Riyals.
Due to the large gap between the supply and demand for exchange services, so that the idea of expansion came to the surface. According to the company’s firm’s belief in the effectiveness of the results of economic feasibility studies which will enable the investor to make a sound investment decision, the company has contracted with the consultant office of Abdulmajed Akbar Auditing Office, a partner of FinEpertiza Company in addition to having long experience in the field of feasibility studies, and has a working team consisting of a group of economic and financial consultants to carry out that the required feasibility study according to the standards applicable in the Kingdom of Saudi Arabia which are conforming to the requirements of all official authorities in the kingdom of Saudi Arabia.