Al Rayan Bank appoints Tim Sinclair as Senior Head of Marketing and Retail Sales
Al Rayan Bank PLC, formerly known as Islamic Bank of Britain (IBB), today announced the appointment of Tim Sinclair as Senior Head of Marketing and Retail Sales.
The appointment of Mr Sinclair to the newly created post recognises his achievements during his three years as Head of Marketing at Al Rayan Bank, which include the Bank’s successful rebrand, following its acquisition by Masraf Al Rayan, QSC (MAR) in early 2014.
Mr. Sinclair has played a leading role in the realignment of the Bank’s sales channels, towards a more direct model. This has been achieved by developing the Bank’s online capabilities, resulting in a 439% growth in direct sales between 2011 and 2014.
Mr. Sinclair has also championed several groundbreaking research projects, which have helped Al Rayan Bank to develop a much clearer understanding of the British Muslim consumer and business marketplace, a previously under researched area. The pioneering data projects include work with Experian, the global information services company, to establish the size, location, social and economic status of Muslim adults in the UK, and the first ever analysis of British consumers’ understanding of, and attitudes towards, Islamic finance, which was conducted independently by research company 2Europe.
In his new role, Mr. Sinclair will continue to oversee Al Rayan Bank’s Marketing team. However, he will also be responsible for the Bank’s branch and agency network, its Contact Centre and customer excellence team, as well as its Intermediaries and Community Banking teams.
Commenting on his appointment, Mr Sinclair said, “Building on the achievements of recent years, the Bank’s strategy for 2015 is one of ambitious growth, and the retail operations and direct marketing will continue to have a central role to play. I’m proud of the contribution that I have made in the last three years, and I am looking forward to playing my part in the Bank’s on-going success.
Sultan Choudhury, Chief Executive Officer, Al Rayan Bank, added, “Tim’s contribution to Al Rayan Bank to date has been significant. He has helped create a successful direct banking model and this has been a key factor in the Bank’s recent development. He has also led a number of innovative projects that have helped to reinforce the Banks’ reputation as a pioneer of British Islamic banking. His expertise and enthusiasm will continue to help Al Rayan Bank achieve its ambitious growth targets.”
The recent growth of Al Rayan Bank, coupled with a £100million capital investment by MAR in 2014, has enabled the Bank to significantly boost its capabilities and resources. Recent developments include senior appointments, investment in IT infrastructure and the strengthening of the product range to encompass Sharia compliant real estate finance, commercial and development finance, and a private banking offering for high net worth individuals.
Al Rayan Bank opened its doors in 2004 as the UK’s first wholly, Sharia compliant retail bank. The Bank currently has over 50,000 retail, business and premier customers and has earned a reputation for providing innovative products which appeal to people of all faiths.