Current Account for business
Our Current Account lets you conduct your day-to-day finances in line with your beliefs.
We use the Islamic principle of Qard for our current accounts. A Qard is a loan, free of any benefit. In essence, it means that your current account is a loan to the bank, which is used by the bank for investment and other purposes. Obviously it has to be paid back to you, in full, on demand.
It allows you the peace of mind of depositing your money in a bank, with the additional reassurance that Al Rayan Bank is not investing your money in activities that contravene Sharia principles.
Features & benefits
- Interest-free bank account: receive no interest, pay no interest
- Debit card and cheque book (subject to status)
- Funds deposited will be administered in accordance with Sharia principles
- International payments
- Access to your account via our online business banking service
Managing your account
Making a deposit
You can make a deposit into your Current Account by:
- Making an online transfer from another account or by money transfer
- Cheque at a branch or by post to our Operational Headquarters at the following address:
Al Rayan Bank PLC
PO Box 12461
- Depositing cash at one of our branches
Making a withdrawal
You may make withdrawals from your Current Account in the following ways by:
- Making an online transfer from your Current Account to another account
- Setting up a Standing Order or Direct Debit
- Withdrawing cash at one or our branches
- Withdrawing cash via an ATM (charges may apply on non-Al Rayan Bank ATMs)
How to apply
To apply for our Current Account you must be:
- Over the age of 16; and
- Make an initial deposit of £500
You can apply for our Current Account in any of the following ways:
By post or at one of our branches
- Simply download, print out and complete an application form and send it, along with the required proof of identity, to us at:
Al Rayan Bank PLC
PO Box 12461
- Or return the application form and your proof of identity to any of our branches
- You can call our Customer Services team on 0800 4086 407, Monday to Friday between 9.00am and 7.00pm, and on Saturdays, between 9.00am and 1.00pm.
- You can register your interest in our current account here
For your own benefit and protection, you should carefully read the Consumer Banking Terms and Conditions before you complete the application. The application forms and other important documentation can be found in the Forms & leaflets section.
To view PDFs you need Adobe Acrobat Reader. This program is available free of charge from the Adobe website. Al Rayan Bank is not responsible for the content of external websites.
Forms & other information
Terms and conditions
For your own benefit and protection, you should carefully read the following important leaflets before you complete the application:
The following information leaflets should also be read:
To view PDFs you need the Adobe Acrobat Reader. This program is available free of charge from the Adobe website. Al Rayan Bank is not responsible for the content of external websites.