Al Rayan Bank
Sharia-compliant commercial bank in the UK / From Wikipedia, the free encyclopedia
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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.
Formerly |
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Company type | Public |
QE: MARK | |
Industry | Financial services |
Founded | 2004 |
Headquarters | London, UK |
Key people | Giles Cunningham (CEO) |
Products | Banking |
GBP30.61 million (2023 pre-tax) | |
Number of employees | Circa 200 (2022) |
Parent | Masraf Al Rayan |
Website | alrayanbank |
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]