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Major principles in Islam: Seeking the halal (part 5). Avoiding riba

ByShaykh Haytham Tamim

Core Principles

  • Justice and fairness are the foundation of Islamic financial dealings.
  • Riba is prohibited because it perpetuates oppression and exploitation.
  • Money is a medium of exchange, not a commodity to be sold for profit.
  • Trade involves risk and effort; charging for money itself without value addition is forbidden.
  • Islam promotes economic balance, not extremes of capitalism or socialism.
  • The prohibition of riba is a divine limit, not subject to human alteration.
  • Alternatives to riba exist and must be sought, especially in financial difficulty.
  • Halal investments and Islamic banking are preferable and encouraged.
  • Repentance and cleansing from riba involve relinquishing any usurious earnings and recovering only principal amounts.

Overview of riba

One of the fundamental principles we have to learn regarding seeking the halal in our life is that it is not just about salah and other obligations, but also how we conduct our business and how we deal with money. In this regard, there are rules, regulations and etiquettes to follow.

This discussion began from the writings of Muhammad ibn al-Hasan al-Shaybani, the student of Imam Abu Hanifa, in his book Al-Kasb (earning, how to earn). Imam al-Ghazali also spoke on this, and Imam al-Shatibi elaborated further in his works. Previously, we looked at some of these sources, and the conditions of a valid sale: what is required, the rules of offer and acceptance.

Today we will take an overview of the prohibition of riba, which is the core prohibition in financial transactions and see what Allah stated in the Quran about it.

Stages of prohibition of riba

Allah prohibited riba, but in his wisdom, he did not prohibit it all at once. Just as with alcohol, the prohibition of riba came gradually, in stages, over time.

The final prohibition was revealed towards the end of the Prophet’s ﷺ life, after a process of around 23 years. Riba went through several stages, like alcohol, which was prohibited in four stages.

Riba = oppression

Allāh spoke about riba, and in many verses He connected riba with oppression. Allah wants us to deal with one another with justice and fairness. He hates oppression. And there is a very close connection between riba and oppression.

In Arabic, riba literally means increase. If you open the Arabic dictionary and search for riba, you will find it refers to an increase or growth. In financial dealings, this increase comes without any risk and without any effort. It is an increase that brings no added value. That is why riba is oppressive: it charges a person more without giving them anything extra in return.

Allāh wants us to deal with one another with justice and fairness. This is why He placed limits in everything, including financial transactions. The concept behind the prohibition of riba is to ensure fairness. It is about reducing oppression in all spheres of life, not only in business but in all forms of dealings. So, the overarching principle here is justice, fairness, and the prevention of oppression.

We can see this principle reflected in the gradual revelation of the prohibition. In the same way alcohol was prohibited in stages, riba too was not banned overnight.

First stage of prohibition

When Allah first spoke about riba, He did not declare it prohibited outright. It was similar to how the prohibition of alcohol was revealed in stages. The very first time people asked about alcohol, Allah did not simply say it is forbidden. He could have said so directly, but instead He acknowledged both sides.

يَسْـَٔلُونَكَ عَنِ ٱلْخَمْرِ وَٱلْمَيْسِرِ ۖ قُلْ فِيهِمَآ إِثْمٌۭ كَبِيرٌۭ وَمَنَـٰفِعُ لِلنَّاسِ وَإِثْمُهُمَآ أَكْبَرُ مِن نَّفْعِهِمَا

“They ask you about wine and gambling. Say: in them is great sin, and [some] benefit for people. But their sin is greater than their benefit.” (Al-Baqarah 2:219)

So at this stage, alcohol was not forbidden, but its harms were highlighted, preparing people gradually for its eventual prohibition.

Likewise, at first, Allāh gave hints. About seven years before Hijrah in Makkah, Allah warned us about the futility of ribā in Surat ar-Rūm:

وَمَا آتَيْتُمْ مِّن رِّبًا لِّيَرْبُوَا فِيٓ أَمْوَالِ ٱلنَّاسِ فَلَا يَرْبُوا۟ عِندَ ٱللَّهِ ۖ وَمَآ ءَاتَيْتُم مِّن زَكَوٰةٍۭ تُرِيدُونَ وَجْهَ ٱللَّهِ فَأُو۟لَـٰٓئِكَ هُمُ ٱلْمُضْعِفُونَ

“And whatever you give in riba to increase within the wealth of people will not increase with Allah. but what you give in zakah, desiring the face of Allah – those are the multipliers.” (Surat ar-Rūm 30:39)

This was the first reference to riba in the sequence of revelation. Allah made it clear that Ribā does not truly increase wealth but rather removes its blessing and diminishes it.

Definition of Barakah

Second stage of prohibition

Later, in Madinah, in the 4th year after Hijrah, Allah condemned riba explicitly, as it was widely practiced there, including among the Jewish tribes.

He revealed:

يَـٰٓأَيُّهَا ٱلَّذِينَ ءَامَنُوا۟ لَا تَأْكُلُوٓا۟ أَمْوَٰلَكُم بَيْنَكُم بِٱلْبَـٰطِلِ إِلَّآ أَن تَكُونَ تِجَـٰرَةً عَن تَرَاضٍۢ مِّنكُمْ

“O you who believe! Do not consume one another’s wealth unjustly, but only [do so] in lawful trade by mutual consent.” (Al-Nisā’ 4:29)

In Madinah, there were three major Jewish tribes there, and riba was embedded in their transactions. Many others in the society were also engaged in riba. Allah stated ‘Do not consume one another’s wealth unjustly’. How do people consume one another’s wealth unjustly? By charging riba. This is charging money for the use of money, without any added value or benefit. That is the essence of riba.

Compound interest

Later, in another stage of revelation, Allah specifically prohibited compounded interest, where debts would multiply over time:

يَـٰٓأَيُّهَا ٱلَّذِينَ ءَامَنُوا۟ لَا تَأْكُلُوا۟ ٱلرِّبَوٰٓا۟ أَضْعَـٰفًۭا مُّضَـٰعَفَةًۭ ۖ وَٱتَّقُوا۟ ٱللَّهَ لَعَلَّكُمْ تُفْلِحُونَ

“O you who believe! Do not consume riba doubled and multiplied. And fear Allah so that you may be successful.” (Al ʿImran 3:130)

This was because creditors in Madinah would impose riba on delayed payments, doubling the debt if the borrower failed to pay on time, then tripling it if delayed again. What began as a small sum, £5, for example, could end up as £50,000. This crushing burden is still seen today in modern banking and loans. It is precisely this kind of oppression that Allah condemned.

Final prohibition

Finally, the absolute and final prohibition came in Surah Al-Baqarah, where Allah said:

ٱلَّذِينَ يَأْكُلُونَ ٱلرِّبَوٰا۟ لَا يَقُومُونَ إِلَّا كَمَا يَقُومُ ٱلَّذِى يَتَخَبَّطُهُ ٱلشَّيْطَـٰنُ مِنَ ٱلْمَسِّ ۚ ذَٰلِكَ بِأَنَّهُمْ قَالُوٓا۟ إِنَّمَا ٱلْبَيْعُ مِثْلُ ٱلرِّبَوٰا۟ ۗ وَأَحَلَّ ٱللَّهُ ٱلْبَيْعَ وَحَرَّمَ ٱلرِّبَوٰا۟

“Those who consume riba will not stand [on the Day of Judgement] except like the standing of a person beaten by Shayṭan into madness. That is because they say: ‘Trade is just like riba.’ But Allah has permitted trade and forbidden riba.” (Al-Baqarah 2:275)

When the Prophet ﷺ conveyed this, some argued: “Why is riba forbidden when it is the same as sale?” Their comparison was based on the case of deferred sales. For instance:

– If you buy 1 kilogram of wheat for £10 in cash, you pay immediately and take the product.
– If you cannot pay in cash, the seller might offer deferred payment, e.g. £12 for one month later. The extra £2 is because of the delay, which is permitted.

But if someone borrows £10 in cash and must return £12 after one month, this is riba. Outwardly the numbers look similar, but in reality, there is a clear difference: in the case of sale, you receive a product in exchange for your money. In riba, there is no product at all, it is purely money being charged for the use of money.

This is why Allah declared: “Allah has permitted trade and forbidden riba.” Trade involves real exchange and added value, whereas riba is exploitation and oppression.

Trade

Allah wants us to be involved in business and trade. This is what makes the economy move and what makes it a real economy, not a superficial one. The difference is clear: when you sell a product, there is risk involved and effort put in. But when you simply lend money, there is no added value, no product, no effort, you are charging someone money for the use of money, at no risk to yourself (apart from the possibility of the debtor completely defaulting on repayment). That is what Allah has forbidden.

In English, one of the old translations for riba is usury, meaning charging money for the use of money. This captures the essence of what is prohibited.

Importantly, riba is not only prohibited in Islam. It is also prohibited in Judaism and Christianity. In Judaism it is called ribbit, and it is likewise forbidden.

At its core, the reason is that money itself is not a product, it is a means of exchange. You can sell a bottle of water, or a piece of cloth, because these are products. But money cannot be sold as a product. It is only a tool of exchange. Therefore, charging money for the use of money has no legitimacy.

Absolute prohibition

Even though many people are still involved in dealing with riba, Allah made it very clear that the prohibition of riba is absolute. The Prophet ﷺ said in a famous hadith:

«لَعَنَ رَسُولُ اللَّهِ ﷺ آكِلَ الرِّبَا وَمُوكِلَهُ وَكَاتِبَهُ وَشَاهِدَيْهِ» وَقَالَ: «هُمْ سَوَاءٌ»

“The Messenger of Allah ﷺ cursed the one who consumes riba, the one who pays it, the one who writes it down, and the two who witness it. He said: they are all the same.” (Sahi Muslim)

Allah also reminds us that He removes blessing from riba, while He increases wealth through charity:

يَمْحَقُ ٱللَّهُ ٱلرِّبَوٰا۟ وَيُرْبِى ٱلصَّدَقَـٰتِ ۗ وَٱللَّهُ لَا يُحِبُّ كُلَّ كَفَّارٍ أَثِيمٍۢ

“Allah lays waste to riba, and gives increase for acts of charity. And Allah does not love every disbelieving sinner.” (Al-Baqarah 2:276)

Here, Allah is not suggesting that we run businesses as charities, but rather cultivating in us the mentality of fairness, justice, and generosity, values opposite to those encouraged by riba.

Historically, it was common practice for anyone who had capital to lend it and live off the interest. Even the Prophet’s ﷺ uncle, Al-ʿAbbas ibn ʿAbd al-Muṭṭalib, was among those who lent money and charged riba.

This is why in his final sermon during the Farewell Ḥajj, the Prophet ﷺ confirmed once and for all the prohibition of riba. He declared:

“All riba of the time of ignorance is abolished. And the first riba I abolish is the riba owed to my uncle, Al-ʿAbbās ibn ʿAbd al-Muṭṭalib. It is cancelled completely; he shall only have his capital back.” (Sahih Muslim)

This was echoed in the final revelation of Surat Al-Baqarah:

يَـٰٓأَيُّهَا ٱلَّذِينَ ءَامَنُوا۟ ٱتَّقُوا۟ ٱللَّهَ وَذَرُوا۟ مَا بَقِىَ مِنَ ٱلرِّبَوٰٓا۟ إِن كُنتُم مُّؤْمِنِينَ
فَإِن لَّمْ تَفْعَلُوا۟ فَأْذَنُوا۟ بِحَرْبٍۢ مِّنَ ٱللَّهِ وَرَسُولِهِۦ ۖ وَإِن تُبْتُمْ فَلَكُمْ رُءُوسُ أَمْوَٰلِكُمْ لَا تَظْلِمُونَ وَلَا تُظْلَمُونَ

“O you who believe! Fear Allah and give up what remains of riba, if you are indeed believers. And if you do not, then be informed of war from Allah and His Messenger. But if you repent, you may have your principal – neither wronging, nor being wronged.” (Al-Baqarah 2:278–279)

The command is clear: whatever outstanding riba is due must be abandoned. No matter how much money has accumulated, it must be dropped. You may take back only your capital, and nothing more.

Don’t go to war with Allah

Then Allah says: if you do not give up riba, then be warned of a war from Allah and His Messenger. This is a very serious warning. Allah declared war against two categories of people: the one who consumes riba, who deals with it and benefits from it, and the one who takes the awliya’ of Allah (i.e. those close to Allah) as his enemies. As the hadith explains, if Allah declares war against you, you know already who will win. So be careful.

Then Allah says: if you repent, you may take back your capital, but only your capital, with no riba added to it. And the verse closes with a powerful principle: not to oppress anyone or allow ourselves to be oppressed. In this context, charging or paying riba is described as oppression.

Inequality

We see this clearly in our world today. A handful of individuals control the majority of the world’s wealth. Ten people, perhaps, own as much as 90% of global wealth. What is this but oppression? This is the fruit of an economy controlled through riba. Allah does not want this kind of inequality.

Islam came to establish a fair economy, a just economy. The capitalist system has not delivered this, nor has socialism. Islam is the balance: not against wealth, and not glorifying wealth either, but placing it within limits of fairness and justice.

Allah also said regarding those in difficulty: if someone has bought from you, for example, wheat and promised to pay you at the end of the month, but when the month comes he cannot pay because of hardship, can you charge him extra? No. Absolutely not. Instead, Allah commands: give him more time until he can pay.

This does not mean Islam places no value on time. Rather, Islam values time greatly, but you cannot charge money for time alone. The Prophet ﷺ also prohibited this in hadith.

عن جابر رضي الله عنه قال:
«لَعَنَ رَسُولُ اللَّهِ ﷺ آكِلَ الرِّبَا وَمُوكِلَهُ وَكَاتِبَهُ وَشَاهِدَيْهِ»
وقال: «هُمْ سَوَاءٌ»
رواه مسلم

Jabir (may Allah be pleased with him) reported:

“The Messenger of Allah ﷺ cursed the one who consumes riba, the one who pays it, the one who records it, and the two who witness it.”
He said: “They are all the same.” (Ṣaḥīḥ Muslim)

Thus the general principle in the Qur’an is that the prohibition of riba went through stages. In Makkah, Allah gave a strong hint that riba was not profitable. In Madinah, in the third year after Hijrah, He condemned riba more directly. In the fourth year He spoke of it again with greater clarity. And eventually, over a number of years, the final and absolute prohibition was revealed.

This gradual method is out of Allah’s wisdom. If riba had been the very first thing prohibited, many might not have accepted Islam. ʿĀ’isha (may Allah be pleased with her) said: if the first thing Allah had revealed was “do not drink alcohol”, the people would have said, “we will never give it up.” Alcohol was as common to them as water. Therefore, Allah gradually took the believers on a journey of spiritual training until they were prepared for the final prohibition of riba.

In the ḥadīth of Jābir, the Prophet ﷺ said clearly that consuming riba is prohibited.:

«لَعَنَ رَسُولُ اللَّهِ ﷺ آكِلَ الرِّبَا وَمُوكِلَهُ وَكَاتِبَهُ وَشَاهِدَيْهِ»
وقال: «هُمْ سَوَاءٌ»
رواه مسلم

“The Messenger of Allah ﷺ cursed the receiver of riba, the payer of riba, the one who records it, and the two who witness it.”
He said: “They are all alike [in guilt].” (Ṣaḥīḥ Muslim)

Some of you may be surprised by this ḥadīth, but it shows that not only the one who takes riba is sinful, even those who pay it, in any way enable it, or witness it are all held accountable.

The spread of riba

In another ḥadīth, the Prophet ﷺ said:

«لَيَأْتِيَنَّ عَلَى النَّاسِ زَمَانٌ لَا يَبْقَى أَحَدٌ إِلَّا أَكَلَ الرِّبَا، فَإِنْ لَمْ يَأْكُلْهُ أَصَابَهُ مِنْ غُبَارِهِ»
رواه أبو داود وابن ماجه

“A time will come upon the people when none will remain except that he will consume riba, and if he does not consume it, he will be afflicted by its dust.” (Abū Dāwūd, Ibn Mājah)

This is exactly the situation we see today. Riba is everywhere, online, offline, in almost every transaction. It is like dust in the air; even if you try to avoid it, you may still be touched by it in some way. But the main thing is not to aim to deal with riba intentionally. If someone is afflicted by it suddenly or by mistake, without intention, Allah will forgive. But to knowingly deal in riba is to expose yourself to sin and punishment.

The whole prohibition is about limits. Allah has put limits in every matter, and the difference between divine revelation and man-made laws is that divine limits are fixed and stable, while man-made laws can change from one day to the next what is prohibited today may be permitted tomorrow, and what is permitted today may be prohibited tomorrow. But the limits of Allah remain constant.

Allah says:

تِلْكَ حُدُودُ ٱللَّهِ ۚ وَمَن يَتَعَدَّ حُدُودَ ٱللَّهِ فَقَدْ ظَلَمَ نَفْسَهُۥ

“These are the limits set by Allah. And whoever transgresses the limits of Allah has certainly wronged himself.” (Al-Ṭalāq 65:1)

And in another verse:

وَمَن يَعْصِ ٱللَّهَ وَرَسُولَهُۥ وَيَتَعَدَّ حُدُودَهُۥ يُدْخِلْهُ نَارًۭا خَـٰلِدًۭا فِيهَا وَلَهُۥ عَذَابٌۭ مُّهِينٌۭ

“Whoever disobeys Allah and His Messenger and transgresses His limits – He will admit him to the Fire, to abide eternally therein, and he will have a humiliating punishment.” (Al-Nisā’ 4:14)

This is a clear warning: do not overstep the limits of Allah. It is for our own protection. It is like a sign posted outside a minefield: “Do not enter.” If someone says, “Who are you to tell me? I will go in,” he will be the first to be harmed. Allah sets these limits for our safety and success.

The Prophet ﷺ also explained this in another ḥadīth:

«إِنَّ اللَّهَ فَرَضَ فَرَائِضَ فَلَا تُضَيِّعُوهَا، وَحَدَّ حُدُودًا فَلَا تَعْتَدُوهَا، وَسَكَتَ عَنْ أَشْيَاءَ رَحْمَةً لَكُمْ غَيْرَ نِسْيَانٍ فَلَا تَبْحَثُوا عَنْهَا»
رواه الدارقطني

“Allah has enjoined religious duties, so do not neglect them. He has set limits, so do not overstep them. He has kept silent about some things as a mercy for you, not out of forgetfulness, so do not seek them out.” (al-Dāraquṭnī)

So the Qur’an and Sunnah both stress: do not overstep the limits. This is for our own sake.

Alternatives to riba

Going back to the Qur’an, Allah says: do not oppress anyone, and do not accept oppression from anyone. The essence of riba is oppression: profiting from another person’s suffering. Someone is in need, comes to borrow money, and you take advantage by charging him extra. This is injustice.

But Islam provides alternatives. The Prophet ﷺ opened doors of opportunity for people in difficulty. A young man once came to him asking for help due to hardship. The Prophet ﷺ gave him something the first and second time, but when he came a third time, the Prophet ﷺ realised that he was becoming dependent. So he asked him why he did not start working. The man replied that he did not know what to do. The Prophet ﷺ told him to buy an axe. The young man did so, and the Prophet ﷺ himself fixed a handle to it and gave it back to him, instructing him: “Go, chop wood and sell it. Do not let me see you for fifteen days.”

The man followed the advice, worked hard, and came back after two weeks with earnings. The Prophet ﷺ showed him how to become independent, to start his own business, and to earn lawfully. This is the prophetic alternative to riba: empowering people to be self-sufficient and dignified, rather than exploiting their needs.

The curse of riba

Allah says: do not wrong anyone nor let yourself be wronged. Though we may face financial difficulties from time to time, this is not an excuse to deal with riba. It is one of the cursed transactions, as we see in the ḥadīth. If you want your transactions to be cursed, deal with riba. If you want your wealth to be diminished, deal with riba. If you want the barakah to be stripped from your finances, deal with riba.

Riba also affects the household. If you are earning from ḥarām and spending this on your children, many problems may arise. Sometimes diseases, sometimes troubles within the family, these can be consequences of feeding on riba. It is not a joke; it is a very serious matter.

Unfortunately, some people try to justify riba by saying: “The riba mentioned in the Qur’an is very different from bank interest today. The bank takes your money, invests with it, and then gives you profit.” No, it is not profit. It is interest. Even if the money is sitting idle, the bank still pays you interest on it. This is not lawful gain; it is the same riba which Allah prohibited in the Qur’an and the Sunnah.

If someone is in financial difficulty and comes to you for a loan, whether a friend, sibling, or colleague, you cannot say: “I will give you £1,000, but you must return £1,200.” That extra is ḥarām. But suppose after a year or two he returns the £1,000, and without any prior condition he adds £100 as a gift. Can you accept it? It is better not to accept, but if it was not stipulated and not a common practice in your society, then it is permissible, similar to a gift. If you want to refuse, you may do so, saying: “I did this for Allah’s sake.”

In general, gifts are praiseworthy. The Prophet ﷺ said:

«تهادَوا تَحَابُّوا»

“Exchange gifts, and you will love one another.” (al-Bukhārī in al-Adab al-Mufrad)

But in this context of loans, gifts can be suspicious and may be a disguised form of riba. So caution is required.

On the other hand, lending money sincerely for Allah’s sake carries immense reward. The Prophet ﷺ said:

«مَا مِنْ مُسْلِمٍ يُقْرِضُ مُسْلِمًا قَرْضًا مَرَّتَيْنِ إِلَّا كَانَ كَصَدَقَتِهَا مَرَّةً»

“There is no Muslim who gives a loan to another Muslim twice, except that it is like giving charity once.” (Ibn Majah)

In another narration, lending to someone in difficulty is rewarded more than ordinary charity. Charity is multiplied by at the very least by ten, while a loan given to someone in hardship is multiplied at least seventeen times.

At the same time, Allah commands us to be practical and organised in financial dealings. In the longest ayah in the Qur’an, an entire page in Surat al-Baqarah (2:282), Allah instructs us how to deal with dayn (debt): record it, appoint witnesses, and set timelines. This avoids disputes, forgetfulness, and denial.

Sometimes, though, emergencies arise. Suppose you tried your best to borrow from friends and family, but you have no option and face a life-threatening situation, such as needing an urgent medical operation. In that necessity, if you must borrow from the bank with interest, you would not be sinful in sha’ Allah. This is because of the rule:

ٱلضَّرُورَاتُ تُبِيحُ ٱلْمَحْظُورَاتِ

“Necessities make the prohibited permissible.”

But necessity does not mean luxury. Buying a new car just because your neighbour bought one is not necessity. Taking finance for worldly desires is not allowed if it involves riba.

Sometimes there are alternatives, like zero-interest finance options, which are increasingly available. These are permissible if no riba is involved. But if there is interest, and there is no necessity, then it is ḥaram.

We need to purify our earnings and our transactions. Riba affects not just our wealth, but our ṣalāh, our duʿā, our health, and our families. Allah declared war on those who deal with riba, whether they pay it or take it. So be careful: you do not want to be the enemy of Allah.

This is the general overview of riba, the sequence of its prohibition, and the wisdom in its gradual revelation.

Mortgages

* The first option for Muslims in the UK is to use Islamic banks, not conventional ones. There are at least five fully fledged Islamic banks offering home purchase plans (HPPs), such as Al Rayan Bank, Gatehouse Bank, and Kuwait Finance House. These are structured differently from conventional mortgages and do not involve interest.
* The argument that Islamic banks use money from interest-based markets is not valid. Almost all money in circulation has the “dust” of riba, as mentioned by the Prophet ﷺ. What matters is avoiding deliberate transactions based on riba.
* If Islamic options are not affordable, some scholars rely on the fatwa of the European Council for Fatwa and Research (issued over 20 years ago) that permits conventional mortgages under strict necessity, but only after exhausting ḥalāl alternatives.

How Islamic home purchase plans differ

* In conventional mortgages, you borrow money and pay riba on it.
* In Islamic HPPs, the bank and the customer are partners. For example, the customer pays 30% of the house price, and the bank pays 70%. The customer gradually buys out the bank’s share.
* If the customer struggles to pay, the Islamic bank first assesses the situation and may allow extra time. Taking the house is only the very last resort. If it comes to this, the customer receives back their share according to what they already paid.

Dealing with riba in daily life

* Having salaries deposited in banks is unavoidable today. This does not make people sinful, since the intention is not to deal in riba. The curse in the ḥadith applies to those directly involved — the taker, payer, writer, and witnesses of riba.
* Riba remains ḥaram in all circumstances. Historical classifications like Dar al-Islam and Dār al-Ḥarb are no longer applicable. Modern scholars agree unanimously that riba is prohibited in all transactions – not just loans.

Where to keep money

* Options include Islamic banks, gold, and ḥalāl investment funds (e.g. FTSE 100 Islamic index, Dow Jones Islamic index).
* There are also Islamic investment companies in the UK. Those unfamiliar with investments should entrust money to reputable experts and avoid scams.

Islamic banks in the UK

Full-fledged Islamic banks (UK licences):
• Kuwait Finance House plc (KFH UK) — formerly AUB (UK).
• Al Rayan Bank plc.
• Gatehouse Bank plc.
• Bank of London and The Middle East (BLME) plc.
• QIB (UK) plc.

UK branches of foreign Islamic banks:
• ADIB UK (Abu Dhabi Islamic Bank) — London branch.

Islamic “windows” (mainly corporate/wholesale out of London):
• Standard Chartered Saadiq.
• Bank ABC – Islamic Financial Services (London).

Delivered by Shaykh Haytham Tamim to the Convert Club on 16th September 2025

Please note: The names of Islamic banks listed here are provided for information purposes only. We are not affiliated with, nor do we endorse or recommend, any of these institutions.

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