His Excellency Mr Yousef Ali Al Khater, Ambassador for the State of Qatar to the United Kingdom; His Excellency Dr Hussain Al Abdulla, Chairman and Managing Director of Masraf Al Rayan; Robert Sharpe, Chairman of Al Rayan Bank Al and a number of directors from Masraf Al Rayan at the opening of Al Rayan Bank's Private Banking branch in Knightsbridge, London.

Masraf Al Rayan QSC's UK subsidiary, Al Rayan Bank, today officially opened its new Premier Banking branch in Knightsbridge, London. The exclusive branch, which is located opposite the famous Harrods department store, will provide Gulf Cooperation Council (GCC) clients with exclusive private banking services.

The branch was officially opened by His Excellency Mr Yousef Ali Al-Khater, Ambassador for the State of Qatar to the United Kingdom in an event attended by senior members of the Masraf Al Rayan and Al Rayan Bank boards, including, Masraf Al Rayan Chairman and Managing Director, His Excellency Dr Hussain Al Abdulla, Group CEO, Adel Mustafawi, Al Rayan Bank Chairman Robert Sharpe, Al Rayan Bank CEO, Sultan Choudhury and Al Rayan Bank CCO, Keith Leach.

Speaking at the opening of the branch, Masraf Al Rayan Group CEO, Adel Mustafawi said, "When Masraf Al Rayan was established nine years ago we set ourselves the ambitious goal of becoming a truly global bank. From the very beginning our strategy was to start from Qatar, then expand to the GCC and ultimately look beyond. When the time was right for us to develop outside of the GCC, the United Kingdom was the natural place for us to begin.

Just over a year on from its acquisition and Al Rayan Bank has been transformed. There is no better example of this than this striking branch and this iconic location."

Al Rayan Bank CEO, Sultan Choudhury added, "The last year have been momentous for Al Rayan Bank; beginning with the acquisition in February 2014 by Masraf Al Rayan, which was followed later in the year by the successful rebrand to Al Rayan Bank, and continued with the posting of the Bank's most successful financial performance to date. The opening of this new branch follows that remarkable year and, we believe, marks our transition to a new iconic banking brand for London and the UK."

Last month, Al Rayan Bank posted its most successful financial performance to date. In 2014, the Bank's operating income increased by 168%, customer financing increased by 86% and retail deposits increased by 59%. The Bank also transformed a £5.5 million loss in 2013 to an after profit after tax of £1.2 million, the first time in its eleven year history that it has posted a profit.

Strategically located in Hans Crescent, Knightsbridge*, the Premier branch is opposite the prestigious Harrods department store and in an area of London which is popular with many people from the GCC. It is expected that this will help the branch to become a hub from where Al Rayan Bank will provide an exclusive private banking service, including real estate finance, day-to-day banking services, and exclusive, bespoke investment opportunities.

Al Rayan Bank is an sharia compliant Bank, founded on faith-based, ethical principles that are derived from trade, entrepreneurship and risk-sharing, in which the customer and bank work together as partners towards a mutually profitable end. These principles also prohibit Al Rayan Bank from investing savers' deposits in unethical activities such as gambling, pornography, speculation, tobacco, arms and other commodities not in keeping with the values of Islam.

* The Knightsbridge branch of Al Rayan Bank is located at 44 Hans Crescent, Knightsbridge, London, SW1X 0LZ

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