Al Rayan Bank named as 'Best UK Islamic Bank'

Al Rayan Bank has been named ‘Best Islamic Bank – UK 2019’ by Global Business Outlook’s 5th annual business awards.

The achievement adds to the Bank’s growing list of accolades – totalling 16 so far this year – including best Islamic Bank in the UK by Islamic Finance News and Best Customer Service Provider by the Savings Champion Awards.

The Global Business Outlook awards recognise businesses that operate in both broad and niche sectors, both at a regional and national level. The awards highlight businesses that have performed in exceptional terms, created great value, business edge and market recognition.

Maisam Fazal, Chief Commercial Officer at Al Rayan Bank, commented: "The Bank’s latest recognition is testament to the Bank’s growth and the increasing awareness of Islamic finance – and the benefits associated with it – in the UK.

"The UK’s position as a leading financial hub is unrivalled, and by bolstering the Islamic finance market, we hope this is a position that continues to go from strength to strength.

"With its underlying principles of equitable distribution for all, fair trading, judicious spending of wealth and the well-being of the community as a whole, Islamic finance presents an ethical banking alternative for anybody, not just for Muslims. It’s important we continue to promote the opportunities the market represents to new audiences."

Al Rayan Bank currently provides Islamic financial products to more than 85,000 customers in the UK. A recent independent study into the economic impact of Al Rayan Bank found that it delivered £389million to the UK economy last year, The bank is the largest provider of Islamic home finance in the country and was the first to introduce Islamic business banking to Britain.