Yes. Your eligible deposits with AlRayan Bank UK are protected by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme, up to a total of £120,000. Most deposits are covered by the scheme.

Any deposits you hold above the FSCS compensation limit are unlikely to be covered, unless under specific circumstances, as determined by the FSCS.

Find out more about FSCS

Islamic banks pay profit to their savers rather than interest. 

Instead of paying a guaranteed interest rate to their savers, Islamic Banks, such as AlRayan Bank, invest customers’ deposits in ethical, Sharia compliant trading activities in order to generate a profit.

Investments are monitored on a daily basis by AlRayan Bank to ensure that they will provide the expected profit rate which was quoted to the customer. This approach has proved extremely accurate; since AlRayan Bank was founded in 2004, it has always paid the rate of profit it has quoted to its customers, and on numerous occasions, when investments have performed better than expected, it has even paid more.

Find out more about expected profit

AlRayan Bank is a UK bank.  

The Bank is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Our firm reference number is 229148.

AlRayan Bank is incorporated and registered in England and Wales with Registration No. 4483430. 4 Stratford Place, London, England, W1C 1AT.

The parent company, and majority shareholder, of AlRayan Bank is 'AlRayan Bank QPSC', formerly called Masraf Al Rayan (MAR).

Find out more about the Bank

AlRayan Bank is the United Kingdom’s oldest and largest Sharia-compliant bank. The Bank specialises in Structured Real Estate and Premier Banking, and offers a limited range of savings accounts through its Digital Banking platform and third party savings aggregation platforms.

AlRayan Bank was the first Sharia-compliant bank in the UK to receive a public rating, achieving an Aa3(cr) rating from Moody's Investors Service (Moody’s), one of the leading global ratings agencies.

AlRayan Bank UK is a UK subsidiary of AlRayan Bank QPSC, formerly Masraf Al Rayan (MAR). AlRayan Bank QPSC is one of the largest banks in Qatar, providing Sharia-compliant banking, financial, investment, and brokerage services across the country. Incorporated in January 2006, AlRayan Bank QPSC is licensed by the Qatar Central Bank.