AlRayan Bank current accounts review
If you’re looking for a Sharia-compliant bank account, find out whether the accounts on offer from AlRayan could be right for you.

AlRayan Bank focuses on banking activities that are in keeping with the ethical values of Islam. It offers a range of banking products, including current accounts, home finance products and savings accounts.
AlRayan offers 2 different types of current accounts for its customers: a personal current account and a premier current account.
This is a straightforward everyday bank account that does not charge or pay any interest, in keeping with the rules and laws of Islam. Funds deposited into the account will be administered in accordance with Sharia principles. The account comes with a debit card and a cheque book. If you keep a balance of less than £2,500 in your account, you will pay a £5 monthly maintenance fee.
This is an account suitable for those who have home finance of £500,000 or more with AlRayan Bank and who have a high net worth.
With the premier account, you’ll benefit from a “dedicated relationship manager” who will be fluent in Arabic and experienced in Islamic banking. The account has a monthly fee of £20, but this will be waived if you hold at least £50,000 on deposit with AlRayan Bank or you are a Home Purchase Plan Premier customer.
There are several benefits to opening a current account with AlRayan:
You can apply for an AlRayan Bank account online, by post or by popping into one of its branches. Non-UK residents must apply in branch with their documents.
You’ll need to show both proof of identity, such as a passport or driving licence, and proof of address, such as a utility bill or bank statement.
Yes, AlRayan Bank is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and PRA. Deposits held with the bank will be protected under the Financial Services Compensation Scheme (FSCS).
This means that up to £85,000 of your money will be protected in the event the bank goes bust. If this were to happen, you could make a claim to the FSCS and get your money back.
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For those looking for a Sharia-compliant bank account, AlRayan is well worth considering. Thanks to its fee-free foreign transactions, its accounts could be particularly beneficial if you regularly travel overseas. The bank’s mobile app also makes it easy to bank on the go 24/7.
On reviews site Trustpilot, AlRayan has a score of 3.4 out of 5 from 1,100 reviews. On the App Store, it scores 4.4 out of 5 from more than 1,100 reviews, while on the Google Play Store, it scores 2.7 from more than 2,000 reviews. These were checked in June 2025.
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