Al Rayan Bank – UK Islamic Bank & Halal Mortgages

About Al Rayan Bank

Al Rayan Bank is the UK’s oldest and largest dedicated Islamic bank. It launched in 2004 as the Islamic Bank of Britain, rebranded as Al Rayan Bank in 2014, and is headquartered in Birmingham. It is one of the most searched names for halal mortgage UK and Islamic bank UK.

Products

• Home Purchase Plans – a Sharia-compliant alternative to a conventional mortgage
• Buy-to-let and commercial property finance
• Savings accounts that pay an expected profit rate instead of interest
• Current accounts

Sharia compliance and regulation

Products are overseen by the bank’s Sharia Supervisory Committee. The bank is authorised by the Prudential Regulation Authority and regulated by the FCA and PRA. Customer funds are not invested in industries such as alcohol, gambling or arms.

Related

Compare other providers in our Islamic finance directory.

Important

This listing is for information only and is not financial advice. Check products, fees and eligibility directly with the provider.

How to compare Islamic finance providers

Islamic finance avoids interest (riba) and excessive uncertainty. Instead, providers use structures such as co-ownership, lease-to-own or cost-plus sale. So when you compare providers, look beyond the headline rate.

• Check who sits on the Sharia board, and whether its rulings are published.
• Confirm the provider is regulated in your country.
• Compare the total cost, including fees, over the full term.
• For investing, check how stocks are screened and how often.

Why Al Rayan Bank is in our directory

Many Muslims want their savings, home and investments to match their values. This provider is one of the providers people search for most. In addition, halal finance can support long-term financial wellbeing and peace of mind.

However, every product carries risk. Therefore, read the key documents carefully, and speak to a qualified adviser if you are unsure. Also, remember that past returns do not guarantee future results.

Al Rayan Bank: quick FAQ

Is this provider Sharia-compliant? this provider states that its products are Sharia-compliant and overseen by scholars. So review the details on its website.

Who can use this provider? Availability depends on where you live. Check eligibility on its website.

Website: alrayanbank.co.uk

Listing compiled by Halal Wellness from public information. Are you the owner? Claim or update this listing for free.