"The strong performance of commercial property finance highlights the increasing customer demand for Sharia compliant residential investment finance products"
Al Rayan Bank has announced that it has now financed more than £1.2bn in commercial property finance (CPF) since 2013.
The Bank reached this milestone in 2020 and has seen its CPF asset book increase by 20% to more than £600m over the last twelve months after focussing its strategy on residential investment finance.
Maisam Fazal, chief commercial officer at Al Rayan Bank, said: “Against a backdrop of Covid-related macroeconomic disruption, our commercial property finance business has grown significantly in 2020. This is primarily due to the Bank’s focus on large UK residential investment finance agreements between £2.5million and £32million.
“The strong performance of commercial property finance highlights the increasing customer demand for Sharia compliant residential investment finance products, and we’re looking forward to working with our clients as they build more extensive portfolios in the months ahead.
“The Bank finances large UK residential investment properties throughout the UK and our customer base is diverse, with 25% of our commercial property finance customers believed to be non-Muslim.
“The property landscape is fast-paced and there’s plenty of opportunities in the market, especially for residential property investment, which has demonstrated its resilience to both de-urbanisation and the impact of Covid-19.”