Al Rayan Bank and Birmingham Airport fuel the Midlands Engine

12 January 2017

Al Rayan Bank CEO, Sultan Choudhury, has met with Brand Ambassador for Birmingham Airport, Uday Dholakia, to discuss the work both companies are doing to build the profile of the city in key markets, such as Qatar, and how this might boost the economy of the region.

It has been estimated that the Midlands region has an annual economy of £222 billion and has played a strong role in the recovery of the UK economy*. Birmingham Airport plays a key role in ‘The Midlands Engine’, connecting Birmingham to the world. In March this year, the airport extended its reach yet further when it launched a new Qatar Airways service between Birmingham and Doha.

Since 2014, the parent company of Al Rayan Bank has been Masraf Al Rayan, one of Qatar’s largest banks. In 2015, Al Rayan Bank opened its flagship Private/Premier banking branch for high net worth customers, who are predominately from the Gulf Cooperation Council (GCC) region - in particular Qatar. And in the last 12 months the value of Al Rayan Bank’s private client real asset book has increased by 118%, helping the Bank’s commercial asset book surpass £1bn.

Commenting on the meeting, Sultan Choudhury said, “Both Al Rayan Bank and Birmingham Airport are in periods of unprecedented growth, and both organisations have a role to help to promote Birmingham and the wider Midlands region as an economic engine of the UK.

“Qatar Airways’ commitment to Birmingham as a direct route from Doha earlier this year, raises the profile of the city in the GCC and makes it easier to promote it as an exciting investment opportunity for GCC organisations.”

Uday Dholakia, Brand Ambassador, Birmingham Airport said, "Al Rayan Bank has played a vital role in supporting local families and businesses in the Midlands. Its connectivity to the Middle East, especially Qatar, makes it an ideal partner for the airport in promoting bilateral trade, investment and tourism links. There is growing interest in enhanced passenger and cargo links to Qatar. We look forward to working with the Al Rayan Bank team in joint programmes to promote the Midlands Engine."

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.

* The Midlands Engine for Growth Prospectus, https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/482247/midlands-engine-for-growth.pdf

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