Al Rayan Bank

Al Rayan Bank PLC
Formerly
  • Islamic House of Britain PLC (2002–2004)
  • Islamic Bank of Britain PLC (2004–2014)[1]
Company typePublic
QE: MARK
IndustryFinancial services
Founded2004
HeadquartersLondon, UK
Key people
Giles Cunningham (CEO)
ProductsBanking
Increase GBP30.61 million (2023 pre-tax)
Number of employees
Circa 200 (2022)
ParentMasraf Al Rayan
Websitealrayanbank.co.uk

Al Rayan Bank PLC (مصرف الريان formerly known as Islamic Bank of Britain) is a commercial bank in the United Kingdom, established in August 2004[2] to offer Sharia compliant financial service products to customers of any faith. The Bank serves its Premier[clarification needed] and Commercial customers through Relationship Managers based in London. Retail customers are served through the Bank's Digital Banking and Telephone Banking services.

The bank welcomes people of all faiths and has become popular with many non-Muslims looking for an ethical alternative to conventional banks.[3][4]

The bank has a Sharia department and an independent Sharia Supervisory Committee to ensure that its products are compliant with the principles of Islamic finance.[5]

As of 2020, Al Rayan Bank served 80,000 customers.[6]

  1. ^ "Al Rayan Bank PLC overview - Find and update company information - GOV.UK". Companies House. 11 July 2002. Retrieved 13 February 2024.
  2. ^ "Values and heritage". Al Rayan Bank. Retrieved 22 March 2024.
  3. ^ "It isn't only Muslims who are buying ethical products with rising returns". Independent.co.uk. 3 May 2015. Archived from the original on 4 May 2015. Retrieved 13 November 2017.
  4. ^ "The Best Savings Accounts You've Never Heard Of". Yahoo! Finance. Archived from the original on 5 December 2009. Retrieved 2 December 2009.
  5. ^ "Vision and values". Islamic Bank of Britain. Archived from the original on 7 April 2014. Retrieved 2 April 2014.
  6. ^ "5 Pillars article 2020". 5 Pillars UK. 30 October 2020. Retrieved 21 July 2017.