5 January 2026
The Islamic Bank of Thailand (ibank) has announced a strategic cooperation with alrajhi bank, the Kingdom of Saudi Arabia’s leading Islamic financial institution, to facilitate fee-free remittances in Saudi Riyal (SAR) from Thailand to Saudi Arabia.
The initiative aims to support Muslim pilgrims and Hajj–Umrah operators by ensuring efficient, transparent, and Shariah-compliant cross-border financial transactions, while reducing the cost burden associated with international transfers during the pilgrimage season. The fee waiver program will be effective from now until 15 January 2026.
Dr. Thaweelap Rittapirom, Director and President of the Islamic Bank of Thailand, stated:
“As an Islamic Bank, ibank places strong emphasis on facilitating religious obligations and serving the real needs of the Muslim community. This collaboration reflects our commitment to supporting pilgrims travelling to the Kingdom of Saudi Arabia, as well as the Hajj and Umrah operators who serve as trusted facilitators of this sacred journey.
By working closely with alrajhi bank, we can offer a reliable and cost-efficient remittance solution that aligns with Islamic principles and delivers lasting value to our customers.”
The collaboration was made possible through the valued support and coordination of H.E. Mr. Darm Boontham, Ambassador of the Kingdom of Thailand to the Kingdom of Saudi Arabia, who played a key role in facilitating engagement and cooperation on trade, financial, and foreign exchange transactions between the two institutions.
Under this program, customers transferring funds in SAR through ibank will benefit from full-amount remittances, ensuring that beneficiaries in Saudi Arabia receive the complete transferred amount without additional deductions.
The initiative has received strong support from Thai Hajj and Umrah operator associations, reflecting shared confidence in the importance of structured, Shariah-compliant financial infrastructure to support pilgrimage-related activities.
ibank believes that this cross-border partnership represents a meaningful step in strengthening financial connectivity between Thailand and the Kingdom of Saudi Arabia, while reinforcing the broader ecosystem supporting Hajj and Umrah pilgrims.
Customers may access this service at any branch of the Islamic Bank of Thailand nationwide. For further information, please contact the ibank Contact Center at 1302, or connect with us via Facebook Messenger: Islamic Bank of Thailand – ibank (@ibank.th) and LINE: iBank 4 all (@ibank).
