Al Rayan Bank Plc

 (3.2; 14 ratings)
3.2 14

Business Focus

Sharia retail banking

Al Rayan Bank is the only Sharia compliant retail bank operating in the United Kingdom. Al Rayan Bank provides Sharia compliant savings, finance and current accounts to personal, business and premier customers. Al Rayan Bank Plc is owned by Masraf Al Rayan (MAR) Q.S.C. MAR is a Qatar-based Islamic bank providing banking, financial, investment and brokerage services.

Services

retail banking
premier banking
business banking
Sharia banking

Clients

individuals
companies

Area Served

GBUnited Kingdom

Products

current accounts
time deposit accounts
notice accounts
savings accounts
ISA accounts
wakala accounts
commercial property finance

International Transfers

SWIFT Transfers
SEPA Credit Transfers
SEPA Instant Transfers
SEPA Direct Debits
FasterPayments

See Also

Account Opening

Becoming a client of Al Rayan Bank Plc can be done in a few steps:

1.
Submit online application

Due to regulatory requirements Al Rayan Bank Plc performs KYC/AML checks when establishing business relationships with a new client. While onboarding a private individual Al Rayan Bank Plc will ask him/her to provide the following documents: passport or ID card; utility bill. For corporate clients Al Rayan Bank Plc will ask to provide corporate documentation as well as information about controlling persons. Al Rayan Bank Plc may request additional documentation or information depending on the case.

Ways to Bank

Al Rayan Bank Plc delivers its products and services through both direct and indirect channels, namely:
branch
online banking
mobile app

Financials

Total Assets of Al Rayan Bank Plc
Annual_profit of Al Rayan Bank Plc
Market Share of Al Rayan Bank Plc
Total Assets (2019)
2,247.30 mln GBP  (+14.33%)
Annual Profit (2019)
6.11 mln GBP  (-4.96%)

Al Rayan Bank Plc is the 78th largest bank in the United Kingdom in terms of total assets. In 2019 its total assets were 2 247,30 mln GBP, providing the bank with the market share of 0.02%. In 2019 the bank's annual profit was 6,11 mln GBP.

Credit Ratings

Fitch: -
AAA
AA+, AA, AA-
A+, A, A-
BBB+, BBB, BBB-
BB+, BB, BB-
B+, B, B-
CCC, CC, C, RD, D
Moodys: Aa3
Aaa
Aa1, Aa2, Aa3
A1, A2, A3
Baa1, Baa2, Baa3, Baa4
Ba1, Ba2, Ba3
B1, B2, B3
Caa1, Caa2, Caa3, Ca

Al Rayan Bank Plc is rated by Moody's. Long-term credit rating assigned to the bank by Moody's is Aa3 (high grade).

Deposit Guarantee

Guarantee Fund
Financial Services Compensation Scheme (FSCS)Financial Services Compensation Scheme (FSCS)
Protected Amount
up to 85,000 GBP
Eligible Depositors
private individuals
companies
Covered Accounts
current accounts
savings accounts
time deposit accounts

Al Rayan Bank Plc participates in the deposit guarantee scheme of the United Kingdom. This deposit guarantee scheme applies to current accounts, savings accounts, time deposit accounts made by private individuals, companies and covers up to up to 85,000 GBP per bank per depositor. Al Rayan Bank Plc is a member of Financial Services Compensation Scheme (FSCS) and makes its contributions into it.

Contacts

Edgbaston House, 3 Duchess Place, B16 8NH, Birmingham, United Kingdom
44 1214527300

Al Rayan Bank Plc is headquartered in Birmingham.

Social Networks

Al Rayan Bank Plc has profiles at the following social networks:

Bank Identifiers

BIC (SWIFT)
ARAYGB22XXX
LEI
213800AINT5U4D66UA65
Company Number
04483430
MFI ID
GB1489

Bank Supervision

Supervised By
Financial Conduct Authority
Reference Number
229148

Al Rayan Bank Plc is authorized and supervised by the Financial Conduct Authority (reference number 229148).

Bank History

Start Date
July 2002
Previous Name
Islamic Bank of Britain plc