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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Bank accounts

Ranked 16th of 34 providers reviewed.

Customer happiness 68%
Customer trust 60%
Complaints performance 57%
Transparency rating 48%
Fairer Finance score
Reviewed Autumn 2019		 58%

Savings accounts

Ranked 42nd of 46 providers reviewed.

Customer happiness 49%
Customer trust 57%
Complaints performance 57%
Transparency rating 40%
Fairer Finance score
Reviewed Autumn 2019		 51%

Bank accounts

Current accounts

Al Rayan Bank

Current Account

3 stars
Faster Payment limit i £250,000
Maximum cash machine withdrawal per day i £750
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

4 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