I do not have a smartphone therefore cannot do mobile banking. Fngerprint and facial recognition technology help to ensure the most accurate identification and verification, An in-app secure messaging feature within your new mobile banking app allows you to communicate securely with the Bank, The application will automatically time out after a period of inactivity, Your new mobile banking application reduces reliance on older identification methods such as passwords and SMS texts for an improved, yet secure experience, Your new mobile banking application has been developed to proactively defend itself against the most advanced mobile threats, Your banking app will not install or load on a jailbroken or rooted device, please use an unrooted device or a device running the original manufacturer’s operating system, Some untrusted applications use frameworks to modify the banking application’s behavior; if your mobile device is detected to be running such a framework, it will not start, If an untrusted keyboard is detected on your mobile device, your new mobile banking application will prevent it from running until the untrusted keyboard is uninstalled, To protect your banking data from fraudulent screen captures, your new mobile banking app will detect untrusted screen readers and prevent it from displaying your data while the screen reader is running, Operating system debuggers can enable malicious parties to interfere with the banking software. highly recommended Al Rayan Bank’s majority shareholder MAR is based in Qatar whilst the Bank of London and the Middle East is listed on the Dubai NASDAQ stock exchange. Savings can help you to feel more secure in your finances, acting as a safety net when your circumstances change, or unexpected costs arise. Whatever your savings goal, we've got a product to get you there. For example, its savings products pay profits rather than interest. If you would like more information on any of our ethical savings products or services, please ring our Customer Services team on 0800 408 6407, or complete our online form and we'll get back to you. Al Rayan Bank offers a comprehensive suite of products for its UK customers and this article will highlight the savings accounts that are currently available as well as a review of the set up process. Your new mobile banking mobile application is designed to work on the latest devices to ensure the most up-to-date security features can be used, The latest encryption features are used between your device and our core banking systems to ensure your information is secure at all times. Which? Al Rayan was taken over in 2014 by Masraf Al Rayan, one of the largest Islamic banks in the world, and changed its name to reflect it was part of the Masraf Al Rayan … Our range of ethical savings products includes instant access savings accounts, notice savings accounts and fixed term savings accounts. Rather than quote a level of interest, shariah-compliant banks will quote an ‘expected profit rate’. But when I go online with my PC there seems to be no facility for logging on, so no access to my account or balance, which is quite a large one, if it still exists. Can’t find what you’re looking for? If you think you’ve fallen victim to a scam, if someone has taken money from your account or if you’ve accidently given your details to a fraudster, please report it immediately to Action Fraud by calling 0300 123 2040 or online. Al Rayan Bank Plc (formerly Islamic Bank of Britain plc) (United Kingdom) company profile - business description: offered products (current accounts, time deposit accounts, notice accounts, savings accounts, ISA accounts, wakala accounts, commercial property finance), services (retail banking, premier banking, business banking, Sharia banking), similar banks. An Al Rayan Bank spokesperson, said: “We can confirm that from 26 February, our existing online banking service will no longer be available to our personal customers. Security weaknesses are commonly fixed through updates; additional security features are also often deployed this way, Make sure you’re running a good anti-virus protection and keep it up to date. Al Rayan is a sharia-compliant bank so customers are not paid interest but instead are given an expected profit rate (EPR). “If Al Rayan Bank withdraws from providing retail services this will severely impair the ability of Muslims to open Sharia compliant current and savings accounts for their day to day financial needs as well as limiting the availability of products that allow them to purchase their homes in a halal way. masraf al rayan & al khaliji have entered into a merger agreement to create a leading shari'ah-compliant regional bank These work in conjunction with our own protective measures to enhance the overall security set, You can email us at webfraud@alrayanbank.co.uk, Give us a call or visit a branch; please visit the contact us page for our up to date contact details. It was previously known as the Islamic Bank of Britain. If you think you’ve fallen victim to a scam, if someone has taken money from your account or if you’ve accidently given your details to a fraudster, please report it immediately to Action Fraud by calling 0300 123 2040 or online. Try searching with our Help section. You can use ISAs to save cash or invest in stocks and shares, however, Al Rayan Bank only offers a cash ISA. Find out more. Apply online. Although screen capturing of applications may be useful, they also can allow malicious apps to capture screenshots of your bank details while the app is in use. These work in conjunction with our own protective measures to enhance the overall security set, You can email us at webfraud@alrayanbank.co.uk, Give us a call or visit a branch; please visit the contact us page for our up to date contact details. opened a savings account with this bank looking for best in class interest rates. Before being called Al Rayan Bank it was known as The Islamic Bank of Britain. If you do not have an existing savings account with Al Rayan Bank, you can apply online through our secure online application. This deposit guarantee scheme applies to current accounts, savings accounts, time deposit accounts made by private individuals, companies and covers up to up to 85,000 GBP per bank per depositor. It is by far the most well-known Islamic Bank in the UK with it winning 2019 Best UK Islamic Bank amongst a whole host of other awards. Useful links. Fidor Bank Savings Bond, Type: fixed-rate-bond, Rate AER:1.9000 %. After all the doom and gloom, the article's last few paragraphs state there is no suggestion that it has breached any UK laws, and the bank has said it does not support extremism or violence. Savings held with Al Rayan Bank are covered by the Financial Services Compensation Scheme (FSCS). Fngerprint and facial recognition technology help to ensure the most accurate identification and verification, An in-app secure messaging feature within your new mobile banking app allows you to communicate securely with the Bank, The application will automatically time out after a period of inactivity, Your new mobile banking application reduces reliance on older identification methods such as passwords and SMS texts for an improved, yet secure experience, Your new mobile banking application has been developed to proactively defend itself against the most advanced mobile threats, Your banking app will not install or load on a jailbroken or rooted device, please use an unrooted device or a device running the original manufacturer’s operating system, Some untrusted applications use frameworks to modify the banking application’s behavior; if your mobile device is detected to be running such a framework, it will not start, If an untrusted keyboard is detected on your mobile device, your new mobile banking application will prevent it from running until the untrusted keyboard is uninstalled, To protect your banking data from fraudulent screen captures, your new mobile banking app will detect untrusted screen readers and prevent it from displaying your data while the screen reader is running, Operating system debuggers can enable malicious parties to interfere with the banking software. This is Shama's story . So whether you've £1 or £1 million, take action now to ensure you're getting every possible penny of interest on your savings. Al Rayan Bank PLC is the UK’s oldest Sharia complaint retail bank, having commenced operations in 2004, and now services over 80,000 customers. The new way to manage your accounts online: You now require the Mobile Banking app to manage your accounts online. Expanding your business. What types of mortgage does Al Rayan Bank provide? Masraf Al Rayan | Saving & Investment Account Saving & Investment Account If you want to save money and get a great return on your investment, ethically and in conjunction with your beliefs, then the Masraf Al Rayan savings account is for you. According to Moneyfacts, the 1.6 per cent rate puts the Everyday Saver at the top of the best buy tables, ahead of Cynergy Bank and Marcus which both pay 1.45 per cent for a year on their respective easy access accounts before the rate falls. There is a limit to the amount that you can pay into a cash ISA in any one tax year, and you can only open one new cash ISA in any one tax year Don’t worry if you have not yet done this; you can register at any time and all of your banking arrangements will be the same as they were with the old Online Banking system. Earn the highest level of profit on your savings with a fixed term deposit. I opened a savings account with Al Rayan because it had one of the leading "interest rates" for easy access. Apply through your existing Digital Banking facility. The mobile banking app – which is already being used by many of Al Rayan Bank’s customers – is more secure, quicker and easier to use. For more information on easy-access accounts, plus sharia options, see our Top Savings guide. The changes included the introduction of a new 24-month cash Isa, increased expected profit rates on its 12-month cash Isa, 24-month fixed-term deposit (FTD), 36-month FTD and 90-day notice accounts. By solely focusing on banking activities which are in keeping with the values of Islam, Al Rayan Bank has made a significant and lasting difference to customers throughout the UK since it was founded in 2004. was very impressed by the ease of account opening and by the customer service when I had questions. I do not have a smartphone therefore cannot do mobile banking. However, Al Rayan Bank has always achieved at least the profit rate quoted. Al Rayan Bank’s UK roots go back to 2004 and is the UK’s oldest and largest Sharia compliant retail bank. Al Rayan Bank has the best rate for a one-year fixed rate bond, with an expected profit rate of 1.08% gross. For example, its savings products pay profits rather than interest. Report this profile About Expert in managing regulated financial complaints, with a passion for improving customer satisfaction. Online fraudsters can attempt to steal information through malicious code or programs, ensuring that you have an effective anti-virus is running is a simple way to combat this. Al Rayan Bank offers great value for savers, with its Sharia compliant savings accounts often at the top of the best buy tables. Keep your devices and login information secure. Please also inform us as soon as possible: Profits generated from ethical activities which are lawful under Sharia. We hope that this clarifies why you were asked to provide this information. Al Rayan Savings Accounts. Savers will need a £5,000 deposit to open this account, and they can do this online, in branch, over the phone or via mobile app. As part of Al Rayan Bank’s ongoing commitment to make banking quicker, easier and more secure, we have recently launched a major new mobile banking update. Al Rayan Bank- great service. The achievement adds to the Bank’s growing list of accolades – totalling 16 so far this year – including best Islamic Bank in the UK by Islamic Finance News and Best Customer Service Provider by the Savings Champion Awards. Masraf Al Rayan and Al Khaliji have entered into a merger agreement to create a leading Shari’ah-compliant regional bank 0 Find What You’re Looking For We … Savings accounts. Log off after you have finished using any banking application. If you are not registered for Digital Banking you can do so by following this link. Masraf Al Rayan prides itself on being one of the most customer focused banks in the region. Over the last three years Al Rayan Bank’s retail and commercial asset book has grown by almost 400% increase, with 47.7 % growth in the last 12 months alone. Our mobile banking application has been developed with the highest security features embedded but we all have a role to play to ensure systems are safe. An emergency – or rainy day – fund helps you to be better prepared to deal with these surprises. If you’re willing to lock up your savings for longer, the expected profit rate on Al Rayan’s 36-month fixed-term deposit account is 2.3% AER, compared to Secure Trust Bank’s 3 … The bank has never failed to pay out its EPR. The bank has two branches in London, and a branch in Birmingham.It also has agencies in Luton, Tooting and Bradford.