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Al Rayan Bank

Al Rayan Bank, formerly Islamic Bank of Britain, is the UK’s only wholly Sharia-compliant retail bank.

Al Rayan Bank, formerly Islamic Bank of Britain, is the UK’s only wholly Sharia-compliant retail bank.

By solely focusing on ethical banking activities, which are in keeping with the values of Islam, Al Rayan Bank is able to make a significant and lasting difference to Muslims, and non-Muslims, throughout the UK.

Sharia compliant banking operates without the use of interest and is founded on Islamic finance principles derived from trade, entrepreneurship and risk-sharing. So, instead of paying interest on its savings accounts, Al Rayan Bank pays profit, which it generates through ethical investments and then shares with the customer.

Similarly, Al Rayan Bank’s property finance customers do not pay interest.  Instead they purchase property with the Bank, buying the Bank’s share over time and paying rent on the portion that they do not yet own.

Al Rayan Bank has a dedicated Sharia Compliance Officer and a panel of respected Sharia Scholars, called the Sharia Supervisory Committee, which acts as an independent body to guarantee that its products and activities are at all times Sharia compliant.

With a strategically located branch and agency network throughout the UK, a highly trained UK-based contact centre, secure online banking and 24 hour automated telephone banking, Al Rayan Bank provides ethical, Sharia compliant savings, finance and current account services to over 50,000 personal, business and premier customers.

www.alrayanbank.co.uk