Al Rayan Bank announces support for key workers and donation for those impacted by Covid-19

22 April 2020

The UK’s oldest and largest Islamic bank, Al Rayan Bank, has implemented measures to support NHS staff and other key workers in response to the COVID-19 crisis; this is in addition to support for retail and commercial banking customers facing Covid-19 related financial difficulty, which was introduced last month. The Bank has also announced a donation to the Muslim Charities Forum’s coronavirus efforts.

The Bank has implemented a ‘key workers’ hotline’ (0800 408 3089) which will allow customers who work for the NHS, as well as those in other key worker roles, to have their calls answered as a priority by contact centre agents. Out of hours callers will receive a recorded message, asking them to leave their contact details and preferred date or time for the Bank to get back in touch.

To manage the unprecedented call volumes being received by the Bank’s contact centre, and to reduce call-wait times for all customers, the Bank has also reassigned colleagues from other areas of the businesses to ensure all customers’ calls are answered quickly and efficiently.

In addition to the recent initiatives, Al Rayan Bank has been working with customers who find themselves in financial difficulty as a result of coronavirus related disruption on an individual basis since late March. Support includes possible payment holidays on Home Purchase Plans (HPPs) and support with ensuring future additional acquisition payments are as affordable as possible. More information on the measures introduced can be found at alrayanbank.co.uk.

As well as supporting its customers, the Bank is actively supporting businesses by making a commitment to pay suppliers without any unnecessary delays.

Peter Horton, Chief Executive Officer for Al Rayan Bank, commented, "It is understandably a very worrying time for everyone, and we want to reassure customers that we empathise with what they are going through and that we are here for them in these uncertain times. I’m very pleased therefore, that we’ve been able to introduce these new measures to support our customers, particularly those in key worker sectors."

"The Bank is looking at how it can support all people who rely on us, including those in our supply chain. Like many businesses, Al Rayan Bank’s supplier network is diverse and ranges from large multinationals to local sole traders. Small businesses have been particularly affected by cash flow issues due to coronavirus-related disruption, so we’re committed to doing all we can to speed up payments to mitigate any negative impact."

In addition to measures to support customers and colleagues, Al Rayan Bank has donated funds to support the delivery of essential food and goods to vulnerable people in Birmingham and across the UK.

The Bank has chosen to support The Muslim Charities Forum (MCF) – an umbrella organisation for Muslim charities that is coordinating a ‘Campaign for National Solidarity’ in response to COVID-19. The money raised will be used to help provide hot food and other essentials to vulnerable people and NHS staff, as well as offering ‘Solidarity Grants’ to community groups for food provisions and hardship grants for families and those facing financial difficulty in the current climate.

Peter Horton added: "More so than ever, we want to help local communities in their time of need. We’ve chosen to support the MCF to ensure they can continue to provide vital food supplies and financial support to those who are most in need."

Founded in 2004 as the first Islamic retail bank in Europe, Al Rayan Bank currently serves more than 90,000 customers throughout the UK. A recent independent study into the economic impact of Al Rayan Bank found that it delivered £389million to the UK economy in 2018.

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.

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