Sharia-compliant Al Rayan Bank has announced the launch of a new website for mortgage intermediaries.

The mobile-friendly website follows the appointment of a dedicated intermediary specialist, and outlines a range of Al Rayan’s Sharia-compliant mortgages and fees.

It comes as part of wider plans to grow the volume of retail assets serviced by Al Rayan, as currently only 16% of the bank’s retail asset sales come via intermediaries. 

Sagheer Malik, Senior Sales Manager for Al Rayan Bank, said: “The development of ongoing relationships with intermediaries is an important focus for the bank.

“As well as providing information on how intermediaries can refer cases to Al Rayan Bank, the new dedicated website will help raise awareness of Islamic home finance among the general mortgage intermediary market, helping advisers to better service the needs of the British Muslim market.”

The website features calculators and guidance on case-referrals, as well as details of the bank’s procuration fees.

Intermediaries will also be able to request a visit to their office from a representative from Al Rayan to discuss further information and training.

Islamic banks who comply with Sharia Law operate without the use of interest.

Founded in 2004, Al Rayan claims to be the UK’s only wholly Sharia-compliant retail bank.

The firm currently has over 60,000 personal, business and premier customers.