An active matrix liquid crystal display having a high aperture ratio is provided. Retaining capacitors are created between a black matrix and pixel electrodes via a dielectric layer made from an organic resinous material or inorganic material. Those regions of the black matrix which cover TFTs are fully utilized. Therefore, wider area can be used to display an image than heretofore. In the present invention, the difference in relative dielectric constant between different dielectric layers is employed. Therefore, retaining capacitors can be created without the need to take account of parasitic capacitance.