Private Banking

Private Banking

A Sharia-compliant Private Bank in the heart of Mayfair serving HNWI. A professional and dedicated team of Relationship Managers and property specialists are there to assist you with all your banking needs including:

We offer our clients a range of Sharia-compliant banking services including:

  • Current Accounts: available in GBP allowing for convenient settlement of your UK payments, including cheques, inward and outward transfers, direct debits, standing orders and more.
  • Debit Cards: linked to your current account with a high daily allowance of £15,000 (£12,000 for purchases and £3,000 for cash withdrawals). The card also works as an entry pass into our building in Mayfair outside the normal working hours allowing you to use our ATM machine in a safe and secure manner.
  • Instant Access Savings Accounts: available in GBP, USD and EUR. These accounts provide you with competitive profit rates whilst allowing you to withdraw any balance at any time.
  • Notice Accounts: available in GBP, USD and EUR. These accounts provide you with a higher profit rate as long as no funds are withdrawn within the notice periods. You can choose between 93 Days’ Notice and 120 Days’ Notice.
  • Wakala Deposits: available in GBP, USD and EUR. These accounts offer highly competitive profit rates on a range of maturities, from one month to three years.
  • Other: more products available from our Treasury department including spot and forward foreign exchange transactions.

We offer our clients a variety of Sharia-compliant Murabaha financing for London properties, including:

  • Owner-Occupier Facilities available in personal names or Trusts. Competitive pricing structures on a 5-year profit only, or profit and amortisation to suit your requirements.
  • Buy-to-Let Investment Facilities available in personal names or corporate structures (SPVs). Competitive pricing structures for profit only or profit and amortisation.

Searching for the right property can be stressful and time-consuming. This is where we can help you:

  • In-house property specialist with a long experience in the London property market and an in-depth knowledge of the current market trends, dedicated to finding you the right property quickly and conveniently.
  • We have an excellent relationship with estate agents and industry professionals allowing us to show you properties that are yet to be shown on the open market.

Owner-Occupier “Regulated” Facilities

  • A Sharia-compliant Murabaha Facility to assist the clients of QIB (UK) in acquiring their UK properties for the purpose of living in them.
  • Unlike Ijara or Musharaka, the client will own the property outright, and not at the end of the agreement.
  • The client deposits at least 35% of the value of the property. The rest will be financed by QIB (UK) under a Murabaha agreement.
  • The profit rate is set at the beginning of the facility drawdown and reset every quarter. The client has the option to make a profit payment only, or add the element of capital repayment.

Contact Details

QIB (UK) plc

43 Grosvenor Street 

London W1K 3HL 

Tel: +44 (0) 207 268 7200 

Email: privatebanking@qib-uk.com