Challenger bank expands into Yorkshire

A BIRMINGHAM-based bank has expanded its UK network with the opening of a new operation in Yorkshire.

Al Rayan Bank targeted Bradford as the latest phase of its expansion because of the city’s strong Muslim communities.

In 2001, 16% of the city’s population was Muslim and by 2011 this had grown to almost a quarter (24.7%).

The specialist bank offers the UK’s largest range of Islamic retail banking products and services, including ethical, Sharia compliant home and property finance; savings accounts; current accounts and business banking.

In addition, it accredits Sharia compliant pensions and investment products, which are provided by authorised partners.

Attending the opening of the bank was Bradford East MP, Imran Hussain.

He said the new bank was a welcome addition to the city.

The new bank forms part of Al Rayan’s national branch and office network, which is strategically located throughout major cities in the UK. In addition to branches and offices, the bank serves its 70,000 customers through a call centre and online and mobile banking service.

Rizwan Ali, business development manager, said: “We’re delighted to open this new office which shows Al Rayan Bank’s commitment to Bradford. As a community bank, we strive to make ethical, Sharia compliant banking as widely accessible as possible; the new office will help us to do this for the communities of Bradford and West Yorkshire.”

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