Al Rayan Bank

Established in 2004, Al Rayan Bank offers Sharia-compliant financial services products to customers of any faith.

To be Sharia compliant Al Rayan's profits can't come from interest, gambling, and other activities that contradict Islamic values. For example, its savings products pay profits rather than interest.

Before being called Al Rayan Bank it was known as The Islamic Bank of Britain. Al Rayan was taken over in 2014 by Masraf Al Rayan, one of the largest Islamic banks in the world, and changed its name to reflect it was part of the Masraf Al Rayan group.

Their UK head office is in Birmingham.

Al Rayan Bank
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Gold ribbon: first place

Bank accounts

Ranked 12th of 34 providers reviewed.

Customer happiness 77.61%
Customer trust 67%
Complaints performance 65.9%
Transparency rating 56.31%
Fairer Finance score
Reviewed Spring 2021
67%

Savings accounts

Ranked 37th of 50 providers reviewed.

Customer happiness 64.81%
Customer trust 59.36%
Complaints performance 65.1%
Transparency rating 55.42%
Fairer Finance score
Reviewed Spring 2021
61%

Bank accounts

Current accounts

Al Rayan Bank

Current Account

3 stars
Annual fee i £0
Maximum cash machine withdrawal per day i £250
Part of FSCS i
Cash withdrawal fee in UK (own bank) i £0
Card payment fee (£) i £0
App capability? i

Foreign use bank accounts

Al Rayan Bank

Current Account

3 stars
Foreign cash withdrawal fee i 0%
Foreign cash withdrawal additional charge i £1.50
Foreign purchases fee i 0%
Is there a limit on free cash withdrawals? i