Al Rayan Bank UK opens its first office in Bradford

22 September 2016

Al Rayan Bank today announced that it has opened a new office in Bradford, a city with one of the largest Muslim communities in the UK. Amongst the attendees at the opening event was Member of Parliament for Bradford East, Imran Hussain.

Al Rayan Bank offers the UK’s largest range of Islamic retail banking products and services, which includes ethical, Sharia compliant home and property finance; savings accounts; current accounts and business banking. In addition the Bank accredits Sharia compliant pensions and investment products, which are provided by partners.

Bradford’s Muslim communities are thriving. In 2001, 16% of the city’s population was Muslim, this proportion had increased to 24.7% by 2011*. Al Rayan Bank’s Bradford office, which is located at 218 Lilycroft Road, will serve these communities as well as the wider communities of West Yorkshire.

Imran Hussain, MP said that Al Rayan Bank was a welcome addition to the city, “I am very pleased that Al Rayan Bank has chosen Bradford as the location for its Yorkshire office. From this office, the Bank will provide valuable banking services to the communities of Bradford and West Yorkshire.”

The new Bradford office forms part of Al Rayan Bank’s national branch and office network, which is strategically located throughout major cities in the UK. In addition to branches and offices, the Bank serves its 70,000 customers through a telephone based Contact Centre and online and mobile banking services.

Rizwan Ali, Business Development Manager, Al Rayan Bank, Bradford said the new office would help the Bank to better cater for its customers, “We’re delighted to open this new office which shows Al Rayan Bank’s commitment to Bradford. As a community bank, we strive to make ethical, Sharia compliant banking as widely accessible as possible; the new office will help us to do this for the communities of Bradford and West Yorkshire.”

Al Rayan Bank is an Islamic Bank, founded on faith-based, ethical principles that derive from trade, entrepreneurship and risk-sharing, in which the customer and bank work together as partners towards a mutually profitable end. These principles prohibit Al Rayan Bank from investing savers’ deposits in unethical activities such as gambling, pornography, speculation, tobacco, arms and other activities not in keeping with the values of Islam.

Al Rayan Bank’s overall approach has earned it national recognition as an ethical alternative to conventional banking by the Move Your Money campaign. The Bank can also be found in the top ten of ethical current account providers, according to ratings compiled by Ethical Consumer magazine.

Al Rayan Bank is authorised by the Prudential Regulation Authority, regulated by the Financial Conduct Authority and the Prudential Regulation Authority, and is a member of Financial Services Compensation Scheme.

ENDS

Al Rayan Bank’s Bradford office is located at 218 Lilycroft Road, Bradford, BD9 5AL

* 24.7% of the population in Bradford is Muslim, according to the report by the The Muslim Council of Britain: British Muslims in Numbers A Demographic, Socio-economic and Health profile of Muslims in Britain drawing on the 2011 Census

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