Finance
Rapid growth leads to new London office for Al Rayan
Al Rayan Bank PLC has opened a new office at a prime location in London’s West End. The new office – in Stratford
Place, W1 - will support the rapid growth of the bank’s commercial property portfolio and the expanding commercial property finance team, which now consists of 11 frontline staff. Al Rayan Bank’s real estate asset
book now exceeds £1.2bn, by far the largest property book of any UK Islamic bank. Commercial property finance has
become an increasingly important growth area for the bank. Despite market nervousness in
2016, commercial property financing was the fastest growing element of Al Rayan Bank’s real estate asset book, increasing by 44 per cent to £396.5m. Increasing its footprint in all sectors of the commercial property finance market remains a priority for the bank over the coming years. Maisam Faisal, head of
commercial property finance at Al Rayan Bank, said: “Customers chose Al Rayan Bank for many reasons.
Focus on real estate: Al Rayan chief executive Sultan Choudry, awarded an OBE in the Queen’s birthday honours, with Maisam Faisal
“For some, it is the fact that we
offer Sharia compliant financing; for others it is our commercial approach and our highly experienced staff who can help structure transactions to suit clients’ requirements.”
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July/August 2017 CHAMBERLINK 55 An example of one such client is
Investra Investments Ltd, a private equity real estate investor. Investra maintains commercial and operational accounts with Al Rayan Bank, and utilises financing for real estate acquisition.
Sector Focus
Audit firm invests in office
National audit, tax and advisory firm Crowe Clark Whitehill has enhanced its Midlands presence with the opening of a new office in central Birmingham. Crowe’s presence in the Midlands has grown consistently and successfully since bringing together its offices in the region six years ago. The new office, which
opened last week in Church Street, provides Crowe with a second location in the Midlands. The new premises will enhance Crowe’s services to the business community and make it easy for people who travel to Birmingham for meetings. It provides a comfortable
work space and convenient meeting facilities. Johnathan Dudley, Midlands managing partner, said: “We have not had an office in Birmingham’s city centre for the last 25 years so this new location will provide advantages to our people, clients and contacts.”
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