Financial Services Compensation Scheme

* Scheme responsible for the protection of your eligible deposit Your eligible deposit is covered by a statutory Deposit Guarantee Scheme. If insolvency of your bank, building society or credit union should occur, your eligible deposits would be repaid up to £85,000 by the Deposit Guarantee Scheme.

** General limit of protection If a covered deposit is unavailable because a bank, building society or credit union is unable to meet its financial obligations, depositors are repaid by a Deposit Guarantee Scheme. This repayment covers a maximum of £85,000 per bank, building society or credit union. This means that all eligible deposits at the same bank, building society or credit union are added up in order to determine the coverage level. If, for instance a depositor holds a savings account with £80,000 and a current account with £20,000, he or she will only be repaid £85,000. In some cases eligible deposits which are categorised as “temporary high balances” are protected above £85,000 for six months after the amount has been credited, or from the moment when such eligible deposits become legally transferable. These are eligible deposits connected with certain events including:

► Certain transactions relating to the depositor’s current, or prospective main residence or dwelling

► A death, the depositor’s marriage or civil partnership, divorce, retirement, dismissal, redundancy or invalidity

► The payment to the depositor of insurance benefits or compensation for criminal injuries or wrongful conviction

More information can be obtained under https://www.fscs.org.uk

*** Limit of protection for joint accounts In case of joint accounts, the limit of £85,000 applies to each depositor. However, eligible deposits in an account to which two or more persons are entitled as members of a business partnership, association or grouping of a similar nature, without legal personality, are aggregated and treated as if made by a single depositor for the purpose of calculating the limit of £85,000.

**** Reimbursement The Deposit Guarantee Scheme will repay your eligible deposits (up to £85,000) within 7 working days, other than where specific exceptions apply. More complex cases including “temporary high balances” claims will take longer and you will need to contact the FSCS to request an application form.

**** Money laundering requirements If Al Rayan Bank has been unable to verify your identity, your deposit is excluded from protection. However, in practical terms, where the Bank cannot verify the identity of the deposit holder or beneficial owner of a deposit, we would be unable to open an account.

***** Pension and retirement funds Deposits by personal pension schemes, stakeholder pension schemes and occupational pension schemes of micro, small and medium sized enterprises are not excluded.

Other important information

In general, all retail depositors and businesses are covered by Deposit Guarantee Schemes. Exceptions for certain deposits are stated on the website of the responsible Deposit Guarantee Scheme. For further information refer to the FSCS website at www.fscs.org.uk.

^ Deposits by personal pension schemes, stakeholder pension schemes and occupational pension schemes of micro, small and medium sized enterprises are not excluded

^^ As listed in Part I of Schedule 2 to the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, read with Part 2 of that Schedule

^^^ Under the Companies Act 1985 or Companies Act 2006

^^^^ See footnote 3

^^^^^ See footnote 3