Banks listed on Saudi Stock Exchange (Tadawul) have agreed with the General Authority of Zakat and Tax to settle Zakat claims for the previous financial years and until the end of the fiscal year 2017.
The banks include Banque Saudi Fransi, Riyad Bank, National Commercial Bank, Bank AlJazira, Alinma Bank, Arab National Bank, Saudi Investment Bank, Bank Albilad, Alawwal Bank, Saudi British Bank, Samba Financial Group and Al Rajhi Bank.
The settlement will also be applicable for the fiscal year 2018, and the amount due will be disclosed in subsequent financial statements, the banks said in separate statements to Tadawul on Thursday.
|
Zakat Settlement |
||
|
Bank |
Settlement Amount (SAR mln) |
Effect on shareholders’ equity (SAR mln) |
|
Al Rajhi |
5,405.27 |
(5,405.27) |
|
Samba Financial Group |
2,316.00 |
(1,816.00) |
|
Alawwal Bank |
374.48 |
(100.4) |
|
Banque Saudi Fransi |
1,510.67 |
(1,510.67) |
|
Bank AlJazira |
551.50 |
(551.50) |
|
Riyad Bank |
2,969.72 |
(787.35) |
|
Saudi Investment Bank |
775.45 |
(775.45) |
|
Bank Albilad |
392.80 |
(392.80) |
|
Saudi British Bank |
1,628.07 |
(1,128.07) |
|
Alinma Bank |
Nil |
Nil |
|
Arab National Bank |
649.02 |
+1,113.3 |
|
National Commercial Bank |
182.68 |
+105.00 |
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