Al Rayan Bank scoops award at House of Commons

Al Rayan Bank, the UK’s largest Islamic Bank, has scooped the ‘Best Islamic Bank of the Year’ award from the World Muslim Leadership Forum (WMLF).

The Bank has been recognised for its commitment to providing a suite of ethical, Sharia-compliant personal and business finance products to both Muslim and non-Muslim customers in the UK.

The win follows a successful few years, which has seen Al Rayan Bank scoop 18 other accolades since 2016, including Moneyfacts ‘Best Notice Account Provider', as well as being highly commended in the categories of ‘Best Savings Provider’, ‘Best Cash ISA Provider’ and ‘Best Fixed Account Provider'.

The World Muslim Leadership Forum event, held over two days at Lambeth Palace with the award ceremony hosted at the House of Commons, was established in 2010, and focuses on the importance of communication and leadership in the Muslim world and synergies with the Western world.

Maisam Fazal, chief commercial officer at Al Rayan Bank, also delivered an acceptance speech at the ceremony and was on one of the main panel discussions at the event.

The discussion focused on the halal economy and Islamic finance contribution to the global economy, and Maisam was joined by Dato’ Seri Jamil Bidin, CEO, Halal Industry Development Corporation Malaysia, Professor Fachruddin Mangunjaya; Maisam Fazel and The Hon. Dato’ Saifuddin Nasution Ismail, Minister of Domestic Trade and Consumer Affairs.

Commenting on the event and award win, Maisam said: “The World Muslim Leadership Forum provides an important platform for a number of industries in the UK, to both raise profile and build reputation outside of traditional Muslim markets; we are therefore delighted to accept this prestigious award.  Al Rayan Bank has played a key role in helping to establish the UK as the leading Western centre for Islamic finance since we were established in 2004, and we look forward to continuing to support Government activities to develop the sector in the UK”

Al Rayan Bank is the UK's oldest and largest Sharia compliant bank. It increasingly appeals to customers of all faiths and currently estimates that over one third of its customers are not of the Muslim faith.

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.