The SA government doesn't support Al Qaeda of course, but the government does heavily fund extensive networks of religious schools and charities that push a very intolerant and view of non-Muslims and non-Wahhabi sects of Iskam, to the point of preaching violence and repressive treatment. In countries like Pakistan these schools are recruiting and training grounds for violent groups. Whether this is a deliberate policy by the SA government or just the result of poor governance and oversight of these organisations and their funding is an open question, but the result has been a dramatic radicalisation of Islam in many of these countries, far more so than in Saudi Arabia itself. I think many Saudis would be shocked to discover how much Saudi money is being diverted to fund terrorism and preach violent Jihad and intolerance of others.
To your point on Iran, yes hey are in some ways an even bigger concern. Where Saudi Arabia is funding extremism largely by accident, Iran is doing so deliberately. Still, that is a question for dealing with Iran which is a separate issue. Unless you are arguing that it's OK for Saudi Arabia to fund radicals and terrorists because Iran does it? But I don't think that's what you mean.