Current account

Our ethical and Sharia compliant current account offers banking without the need for you to compromise your principles.

We use the Islamic principle of qard for our current accounts. A qard is an ethical 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. It is paid back to you, in full, on demand.

The Islamic Current Account from Al Rayan Bank provides you with the peace of mind of depositing your money in a bank, with the additional reassurance that Al Rayan Bank is investing your money in activities that do not contravene Sharia principles.

All of Al Rayan Bank's products and services are endorsed by our Sharia Supervisory Committee, you can view the Certificate of endorsement for this account by following this link.

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
  • Automatic access to your account via our automated telephone banking service 24/7 or online
  • All transactions at Knightsbridge branch counter with cost £5 per transaction (Max £5 per day)

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
Birmingham
B16 6AQ

  • 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)

If you are planning to travel outside of the UK, click here to a list of countries where restrictions may apply to your Al Rayan Bank Debit Card.

Forms & other information

Application forms

Terms and conditions

For your own benefit and protection, you should carefully read the following important leaflets before you complete the application:

Further information

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 websiteAl Rayan Bank is not responsible for the content of external websites.

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