AlRayan Bank
Banking license: United Kingdom (AA)
Deposit amount: Min. £ 1,000 – Max. £ 85,000
Protection limit: Up to £ 85,000 payout in GBP
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Bank Details
Founded in 2004, AlRayan Bank is an inclusive Islamic bank which welcomes customers of all faiths and beliefs. As the oldest and largest Islamic bank in the UK, AlRayan Bank serves over 85,000 customers throughout the UK with Sharia-compliant and FSCS protected banking products.
Because AlRayan Bank is an ethical, Sharia-compliant bank, they adhere to Sharia banking principles, which you can read about on our Sharia banking page.
AlRayan Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Security & Deposit Protection
The FSCS is the United Kingdom’s statutory deposit guarantee scheme. If an FSCS-protected bank fails or is unable to meet its financial obligations, the FSCS can provide compensation for eligible customer deposits up to a limit of £85,000 per person, per bank. The FSCS’ £85,000 protection limit applies to all deposits held with a bank (including current and savings accounts), as well as any deposits held with intermediaries of the same bank (for example, where a bank operates multiple banks under different trading names). Read our dedicated FAQ page to learn more about the FSCS.
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