THE COVID-19 PANDEMIC EFFECT ON THE PERFORMANCE OF THE ISLAMIC BANKING SECTOR IN KSA: AN EMPIRICAL STUDY OF AL RAJHI BANK

The aim of this study is to assess the impact of COVID-19 pandemic on the performance of the Islamic banking sector in the Kingdom of Saudi Arabia. Several issues arose in the financial sector around the world after the COVID-19 crisis. The study looks at Al Rajhi Bank's progress before and during the COVID-19 pandemic. Al Rajhi Bank is one of the largest banks in the Kingdom of Saudi Arabia and the world, with $ 80 billion in deposits, $ 6.77 billion in paid-up stock, and a large employee base. The findings show that the COVID-19 crisis had only a minor impact on Saudi Arabia's Islamic banking system, especially the bank under investigation, and that Islamic banks are capable of escaping the financial and economic risks associated with the crisis. Islamic banks are distinguished from other commercial banks by their ability to respond quickly to crises such as economic and financial shocks