Al Rayan Bank targets intermediary growth

Currently around 13% of Al Rayan Bank’s asset sales come via the intermediaries channel, while less than half than come via the Bank’s direct channel or branch and agency network. To reach its growth targets, the Bank will continue to invest in its intermediaries proposition; this includes the launch of a dedicated intermediaries website later this year.
 
Saalik Haleem, who will be based at the Bank’s Operational Headquarters in Birmingham, has worked within the Islamic finance industry for a number of years, specialising in the areas of advisory and Islamic investments, specifically Sharia complaint Open Ended Investment Company Funds and Unit Trusts.
 
Sagheer Malik, Senior Sales Manager at Al Rayan Bank PLC, said:

“The growth of the intermediaries channel is a key focus of the Bank, and raising awareness of Islamic home finance amongst the general mortgage intermediary market is an important part of the process. I’m delighted to welcome Saalik to the team; he has the right combination of knowledge and experience that we need to drive the growth of this important channel.”
 
Al Rayan Bank opened its doors in 2004 as the UK’s first wholly, Sharia compliant retail bank. The Bank currently has over 60,000 retail, business and premier customers and has earned a reputation for providing products which appeal to people of any faith.   

As an independent UK bank, Al Rayan Bank is authorised by the Prudential Regulation Authority, regulated by the Financial Conduct Authority and the Prudential Regulation Authority and is a member of Financial Services Compensation Scheme.