Al Rayan Bank expands its Birmingham headquarters

16 April 2019

Al Rayan Bank has expanded its Operational Headquarters in Birmingham with the restoration of the Grade 2 listed, 23 Calthorpe Road and adjacent Coach House.

The Bank, now celebrating its 15 year anniversary, has been headquartered at 24a Calthorpe Road, Edgbaston, since September 2015. The new additions to the Bank’s campus were officially opened this week, and reflect the strong growth of the Bank and its burgeoning workforce, which in the past three years has increased by 115% to 338.

The Bank, which has an asset book of almost £2billion, has grown significantly in recent years, and currently serves more than 85,000 customers, over a third of which are believed to be non-Muslim.

Paul McMillan, Al Rayan Bank Chief Operating Officer, commented, "Birmingham has been our base since the Bank began 15 years ago. The city remains the perfect location for our operational headquarters, lying at the heart of the Midland’s engine, and with a financial services sector which employs over 50,000 people.

"The newly expanded Al Rayan Bank Campus will help us to keep pace with the increasing size of our workforce and customer base. It is our highly competitive and ethical offering that sets us apart from other providers in the market, as well as our focus on the importance of company values and culture. This has seen Al Rayan Bank become the UK’s largest Islamic bank and a significant rival to mainstream banks in the UK, frequently topping the independent ‘best-buy’ savings charts and appealing to an increasingly broad range of customers."

As an independent UK bank, Al Rayan Bank is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority and the PRA. The Bank is a member of the UK Financial Services Compensation Scheme, which guarantees customers’ deposits up to £85,000.

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