Saudi Arabia has a well-developed mature financial system that is comparable to any in the world. Major world financial institutions have their regional headquarters in the kingdom and the ultimate goal is to deliver fast financial services.

One of the major indigenous financial institutions of the kingdom is the Ahmad Hamad Al Gosaibi & Brothers. Formed in 1940 by Ahmad Hamad Al Gosaibi as a company offering money exchange services to the coastal town of Al-Khobar and beyond, Al Gosaibi's sons later expanded the company and diversified into the fields of banking, shipping, real estate, insurance, manufacturing and oilfield services. The A.H. Al Gosaibi & Brothers Group has come to be a respected financial institution in the whole of the Middle East.

Formed as a family business, AHAB has remained so to date with the founding brothers having passed on the mantle of the Group's leadership to their younger generation. AHAB is deeply involved in the development of prime properties. As part of their real estate development, the group built the Al Gosaibi Hotel. It has also invested in the National Bottling Company, which bottles Pepsico beverages. The group is a major parts supplier to the Saudi Aramco, a giant in oil mining. The group is also in partnership with international companies throughout the world. Apart from financial activities, the group is heavily involved in philanthropy; it has founded and continues to fund Islamic Welfare Organizations and Foundations throughout the world.

The group's largest individual shareholder is Dawood Suleiman Al Gosaibi who together with his mother and two sisters own a third of the group's shares. This was actually gained through inheritance of shares after the death of the senior Suleiman (their father) who died in 2009. The senior Suleiman was one of the group's founding brothers. Ahmad and Abdul Aziz were the other founding brothers but they had died earlier, with Ahmad's shares being inherited by his six children and Aziz's by his wife and seven children. These two families had a third shareholding each.

Large and expansive businesses are bound to be faced with a number of financial irregularities on the part of unfaithful directors and managers. AHAB group has not been left out on this. In early 2009, the International Banking Corporation (TIBC), AHAB's money exchange owned Bahrain based bank failed to meet its debt obligations to a number of financial institutions. AHAB ordered an internal audit that revealed several financial irregularities. The Al-Gosaibi family was forced to intervene and appeal to the banks lenders to freeze all their payer obligations. The Bahrain Central Bank responded by seizing TIBC and putting it under its administration.

What followed was a protracted court battle that has seen the Al-Gosaibi Group file cases against a former managing director of its money exchange wing of misuse of collateral authority that led to multi-billion dollar fraud. This affected the operations of local and international banks within and without Saudi Arabia. Other court cases have been filed in the US and other jurisdictions.