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. Rather than quote a level of interest, shariah-compliant banks will quote an ‘expected profit rate’. If you do not have an existing savings account with Al Rayan Bank, you can apply online through our secure online application. Masraf Al Rayan prides itself on being one of the most customer focused banks in the region. Expanding your business. Apply Now . When you need money, whatever the reason, Masraf Al Rayan can help you meet your needs. Therefore, to avoid any confusion for our customers, the rate of annual return from Al Rayan Bank savings products is only ever quoted as expected profit rate (EPR). 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. The minimum deposit required is £1,000. If you do not have an existing savings account with Al Rayan Bank, you can apply online through our secure online application. One of Gatehouse Bank’s two owners is based in Kuwait. The updated service offers a number of significant new security features to ensure you are provided with a safe and secure experience. 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. The updated service offers a number of significant new security features to ensure you are provided with a safe and secure experience. A software token, which is assigned to your mobile device, increases security. Below you can see how it compares on two year accounts. 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 … If you already hold an account with Al Rayan Bank, you can apply for our saving accounts through your Mobile Banking facility. If you already hold an account with Al Rayan Bank, you can apply for our saving accounts through your Mobile Banking facility. (fixed) for 62 months reverting to 4.74% p.a. Register by clicking ‘Register now’ below. Please contact the nearest Masraf Al Rayan branch for the exact calculation. Al Rayan Bank … *Installment values may not be accurate. Unlike conventional finance, Islamic banks operate without interest, which is forbidden in Islam. 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. 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. Your devices and login information are your way of accessing your bank account information online. 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. Give us a call +974 4425 3333 Send us a message. I was drawn to IBB (the previous name for Al Rayan Bank) for the market-leading profit rate being offered for the 24 month Fixed Term Deposit Account but it was the Bank’s top-rate customer service that really overwhelmed me. 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, To view the details of the actual profit rates that have previously been paid, To find out more about the profit sharing ratio. 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. All of Al Rayan Bank's products and services are endorsed by our Sharia Supervisory Committee, you can view the Certificate of endorsement for this account by following this link. Al Rayan Bank does not quote AER (annual equivalent rate) on its products as this may be misinterpreted by consumers as an interest-based calculation. Lorna Daniels. Can Al Rayan Bank change the expected profit rate? Read more customer comments The new way to manage your accounts online: You now require the Mobile Banking app to manage your accounts online. Features & benefits Interest-free bank account: receive no interest, pay no interest MORTGAGE LOANS. Al Rayan pays 0.75% expected profit rate on its two year fixed Isa. Shawbrook Bank pays a … The bank is Sharia compliant. 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. 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. As Al Rayan products are Sharia-compliant, savers are offers an Expected Profit Rate (EPR) rather than an interest rate. But so far, Al Rayan has always paid out its EPR, so for customers, it works much in the same way as any other bank. On other occasions, the customer can be paid their profit, once the Bank deducts its margin of the profit. At least I thought I had opened an account. Customers without a compatible smartphone can register through a handheld hard token. Register by clicking ‘Register now’ below. This should in theory reduce the cost of capital to the bank, and therefore lead to a reduced rate being charged to customers. Fill in the contact form Luxury Boats and Yachts Finance. I opened a savings account with Al Rayan because it had one of the leading "interest rates" for easy access. Log off after you have finished using any banking application. Al Rayan Bank has expanded its Home Purchase Plan (HPP) product range to include the bank’s first 5-year fixed rental rate products. 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. Al Rayan pushes up best two-year savings rate from 2.52pc to 2.78pc The bank pays a high return on two fixed term accounts although the "expected profit" rate carries an element of risk This includes anti-virus, firewalls and other such features. Al Rayan Bank, formerly Islamic Bank of Britain, is the UK’s only wholly Sharia-compliant retail bank. Following the below recommendations will help to ensure that you have the most safe and secure experience when using our systems. Profits generated from ethical activities which are lawful under Sharia. This retail bank has been around since 2004 and has five high street branches, 10 offices, and more than 85,000 customers. A software token, which is assigned to your mobile device, increases security. The bank has never failed to pay out its EPR. If other people have access to these, they can try to gain access in the same way as if you gave someone the keys to your house. The total payable would be £261,424.58, which includes interest of £90,685 and a product fee of £495. 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. Unlike many conventional banks, Al Rayan Bank is completely transparent about where customers’ deposits are invested, and, just as importantly, where they are never invested. This is because interest is strictly forbidden in Islam, as Muslims believe that it promotes unfairness in financial transactions, which leads to social inequality and injustice. To see actual profit rates the Bank has paid since 2008, please click here. At present, it is offering an ‘expected rate’ of 2.02% on its 12-month bond. 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. The application will detect risky configurations and protect your banking data by either not loading or shutting down, The mobile application has security functionality built into it to prevent malicious code from being injected into the banking app. They are never invested in any activity that is not in keeping with the values of Islam – such as any activity connected to gambling, alcohol, pornography, arms, tobacco or any interest bearing activity – or any speculative activity. This ethical approach to generate a return is one of the reasons we call the way we operate, ‘banking you can believe in’. Al Rayan Bank UK Home. If for any reason Al Rayan Bank believes it will not be able to meet the expected profit rate, we will write to you and you will be able to take back your deposit with all the profit earned to date. Applicant must be 21 years of age or above; Applicant’s employer must be one of Al Masraf’s approved employers list ; Transfer of salary and assignment of end-of-service benefits to Al Masraf. Each client is assigned a Private Relationship Manager and treated as a prestigious partner, with the utmost respect and concern. Please contact the nearest Masraf Al Rayan branch for the exact calculation. Find out more. 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. Al Rayan Bank is a wholly Sharia compliant bank, as are all of the products and services that we offer. What is Islamic finance? Expanding your business. 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