Gulf International Bank B.S.C. (GIB) was established in 1975 as a commercial bank providing wholesale banking services and is regulated by the Central Bank of Bahrain. GIB is owned by the governments of the Gulf Cooperation Council countries, with Saudi Arabia’s Public Investment Fund being the primary shareholder.
In 1999 GIB began operating in Saudi Arabia as a foreign bank, providing wholesale and investment banking services through branches in Dhahran, Riyadh, and Jeddah. In April 2019 GIB became the first foreign domiciled bank to establish a local commercial bank in the Kingdom with the conversion of the Bank’s existing branches into Gulf International Bank Saudi Arabia (GIB Saudi Arabia). This followed the Saudi Council of Minister's approval, in May 2017, to grant the Bank a local commercial banking license and the constituent shareholder’s meeting to appoint the Board of Directors in February 2019. GIB Saudi Arabia is owned equally by the Saudi Public Investment Fund and Gulf International Bank B.S.C., with a paid-up capital of SR 7.5 billion, and is the first bank to be headquartered in the Eastern Province.
GIB Saudi Arabia aims to be the trusted business partner recognized for innovation, regional expertise, and international reach; providing tailored solutions that leverage our digital advantage across wholesale and retail banking with its Riyadh-based subsidiary, GIB Capital, delivering the Bank’s investment banking activities. Its services are delivered across the GCC and international markets through GIB B.S.C in Bahrain and the UAE and GIB UK Ltd in London and New York.
In 2014, the Bank launched ‘meem’, the world’s first Shariah-compliant digital bank, in Saudi Arabia, providing the Kingdom with innovative and comprehensive products for retail customers.