Al Rayan bank

ortolickus

If the Daily Mail is slagging them off, they're good enough for me. Here's one more saver for them :-)

sal_III

msnau wrote: »

They have been accused of having clients linked to extremism by the Dailymail.

As an existing customer, I am concerned this is a reputational risk for the bank and may result in a decline of profits to its customers : less people will want to use their services, business will decline, therefore less profits to share out to customers.

I guess for Fixed Term Bonds, the rates are relatively fixed so should not be impacted (much). However, for Savings accounts where the profit is not fixed there could be an adverse impact?

I may be over worrying.

Plenty of other banks have had major reputational issues - TSB with their IT meltdown lost many customers, but has survived (I think)

Good point on the FSCS limit - thank you. That is a reassuring point.

For all intend and purposes the "profit sharing" is interests and more or less fixed. The wording is just a way to go around Sharia law that prohibits interests.

Also Daily Mail... I wouldn't worry too much if I were you