Notwithstanding the Brexit impact, Al Rayan Bank’s (UK) Knightsbridge branch has witnessed unprecedented growth in the private client business with it opening 600 new accounts ever since its officially opened in May last year.
The opening of new accounts in its flagship branch has helped it grow the value of its private client real estate business by 173% and the value of its private client liabilities increased by more than 140%, a bank spokesman said.
The Knightsbridge branch provides its private banking customers with a high quality, personalised and bespoke banking service and a comprehensive range of Shariah-compliant financial solutions including residential and commercial real estate finance as well as ‘over the counter’ banking services.
“As expected, our Knightsbridge branch has become an important hub from where our clients, who are mainly from the GCC (Gulf Cooperation Council) region, are choosing to carry out their banking requirements,” Ahmed Rawaf, head of private banking, Al Rayan Bank (UK) said.
In just 15 months since it opened, the branch has welcomed many hundreds of new high-net-worth customers and has been an engine behind the rapid growth in the bank’s private client business, he said, adding the branch will continue to quickly respond to the changing needs of its private banking customers and anticipates that the next year will be equally successful.
The Knightsbridge branch was officially opened last year by the Qatar’s ambassador to the UK Yousef Ali al-Khater in an event attended by the boards of directors of Masraf Al Rayan and Al Rayan Bank, including, Masraf Al Rayan chairman and managing director, Dr Hussain al-Abdulla, group chief executive Adel Mustafawi, Al Rayan Bank chairman Robert Sharpe, Al Rayan Bank chief executive Sultan Choudhury and Al Rayan Bank CCO, Keith Leach.
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. The Knightsbridge branch is the pinnacle of Al Rayan Bank’s national branch and office network. Customers can also access branches in London Edgware Road, London Whitechapel, Birmingham, Manchester and Leicester, as well as offices in Luton, Tooting, Bradford and Blackburn.

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