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IBB to become Al Rayan Bank

2news6The Islamic Bank of Britain is to change its name to the Al Rayan Bank. The change signifies the beginning of a new chapter for the bank as the European subsidiary of Masraf Al Rayan, the second largest bank in Qatar by market value. Al Rayan Bank’s activities will continue to be monitored by an independent Sharia Supervisory Committee and a dedicated Sharia Compliance Officer. It will continue to operate as a UK regulated bank, and customers’ deposits will remain protected by the Financial Services Compensation Scheme. The bank has introduced a new Al Rayan Bank logo and brand identity, which are being implemented across the bank’s website, literature, branches and other materials. The bank received a £100 million capital investment from its new parent company in January 2014, which has enabled it to significantly boost its capabilities and resources.

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