Categories: Features

Double award success as Al Rayan Bank is named ‘Best Islamic Bank in the UK’ and ‘the UK’s Best Cash ISA provider

Al Rayan Bank (UK), the country’s largest* and oldest Islamic retail bank, has started the year by winning two prestigious awards. The Bank has been named as the ‘Best Islamic Bank in the UK’ at the 2017 Islamic Finance News Awards. This accolade follows it being named as the ‘UK’s Best Cash ISA Provider’ and being commended in the category of ‘UK’s Best Fixed Term Savings Provider’ in the eighth annual Moneynet Personal Finance Awards.

Winners of the annual IFN Best Banks awards are determined by votes cast by readers, which include Islamic finance issuers, investors, non-banking financial intermediaries and government bodies. The awards recognise the best providers of Islamic financial services across a series of markets and sectors.

The Moneynet awards recognise personal finance providers that have gone the extra mile in the previous twelve months to deliver excellent deals for the consumer. The judging panel conducts reviews of finance products in the UK market to identify those that deliver the best returns and have the most innovative product features to ensure an all-round good deal for customers.

Commenting on the double success, Sultan Choudhury OBE, Al Rayan Bank Chief Executive Officer said, said: “We’re delighted to begin 2018 with these accolades. In an increasingly competitive environment, awards such as these are testament to the longevity and enduring appeal of the Bank, as well as its ability to succeed in a range of markets.

“The Moneynet award, together with others we have received in the recent past, help to cement our position as a credible alternative for UK savers who may be looking for a more ethical, responsible approach to Banking. The IFN award recognises and celebrates our position as the oldest and largest Islamic bank in the country, one that has striven to provide innovative, Sharia compliant products ever since the Bank was founded in 2004. Today, Al Rayan Bank is a UK success story: we’re one of the fastest growing banks in the UK, serving more than 80,000 customers – over a third of which we believe to be non-Muslim.”

This is the latest awards success enjoyed by Al Rayan Bank. In the past twelve months, the Bank has been named the ‘UK’s Best Fixed Term Savings Account Provider’ and highly commended in the ‘ISA Provider of the Year’ category by Moneyfacts. Furthermore, in recognition of his services to Islamic finance, Sultan Choudhury, Chief Executive Officer of Al Rayan Bank was named an Officer of the Most Excellent Order of the British Empire (OBE) by Her Majesty Queen Elizabeth II in 2017.

Al Rayan Bank has pioneered Islamic banking in the UK since it was founded in 2004. As an Islamic bank, it was 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 the 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. As such, Al Rayan Bank can be found in the top ten of ethical current and savings account providers, according to ratings compiled by Ethical Consumer magazine.

British Muslim Magazine

The adventurous spirit behind the pages of British Muslim magazine. As the Editor-in-Chief, Natasha leads with a passion for exploration and a pen dipped in wanderlust. With a keen eye for halal travel experiences and an insatiable curiosity for new experiences, she brings readers along on captivating journeys to far-flung destinations. Through her vibrant storytelling, Natasha invites readers on enriching adventures, where every experience is a window into the muslim world.

Recent Posts

‘Where It All Began’ expo showcasing in Bradford

roots and heritage. His father immigrated to Bradford from Pakistan in the 1960s to work…

5 days ago

The Turkish Mesopotamian Express Takes New Routes through Anatolia

The Mesopotamian Express is a luxurious train that takes passengers on a scenic journey through…

2 weeks ago

Celebrating Eid Al Adha with Your Father – Father’s Day Gifting

This year Father’s day and Eid have both landed together. If you’re looking for some…

2 weeks ago

The Perfect Avocado Kibbeh

Discover a delightful fusion of flavors with this Quinoa and Avocado Salad. This recipe combines…

3 weeks ago

Four Top Festivals to visit this summer

With so many activities and variety of events taking place, we have curated five distinct…

3 weeks ago

Minimum creates a sense of nostalgia in a raw form

As part of the UK Asian Film Festival held on Thursday 2nd May a stunning debut opening at the BMI…

3 weeks ago