UBL UK Ameen Islamic Banking

About Our Interest Free Services

Following extensive and careful consultation with our Shari'ah Advisor, UBL UK launched Ameen Islamic Banking to help our customers to bank interest free. The products that we offer in the Ameen Islamic Banking range are rigorously analysed to ensure that your money is kept in accordance with Shari'ah principles. Ameen Islamic Banking Accounts are separated from conventional banking activity, and deposits are carefully invested in Shari'ah compliant investments for the benefit of our customers.

You can be assured that where you see the Ameen Islamic Banking logo, the products and services meet with strict Shari'ah compliance.

About our Shari'ah Advisor

Mufti Barkatulla Abdul Kadir, previously the Senior Imam of the North Finchley Mosque in London, has authorised the Ameen Islamic Banking products and services. He is assured that they are Shari'ah compliant, and is satisfied with how your money will be used. Trained as a Mufti in 1974, he graduated in Islamic Studies from the prestigious Darul Uloom University in India. Mufti Barkatulla Abdul Kadir is one of the Shari'ah judges in the Islamic Shari'ah Council, and a member of the Shari'ah supervisory panel for several Islamic financial institutions.

A range of products to suit your needs

Savings Accounts

Our Islamic Savings Accounts have been developed according to the Islamic principle of ‘Mudaraba’.

In accordance with Mudaraba, you, the customer (or Rab-ul-Mal), deposit your funds with us, the financial manager (or Mudarib). We provide the financial expertise required to manage and invest your funds in a way that complies with Shariah principles.

The profit generated from these ethical and Shariah-compliant investments is then distributed among the depositors, which means there is no element of interest – or Riba – involved in the transaction.

  Term Expected profit rate Minimum deposit Maximum deposit Estimated balance after 12 months More Infromation
Islamic Notice Account 90 Day Notice 1.00% AER/Gross p.a £1 £1,000,000 £1,010.00 Find out more
Islamic Fixed Term Deposit 6 Month 0.15% AER/Gross p.s £2,000 £1,000,000 £2,001.50 Find out more
Islamic Fixed Term Deposit 1 Year 0.60% AER/Gross p.a £2,000 £1,000,000 £2,012.00 Find out more

Islamic Home Finance

Our Islamic home finance facilities (Islamic Personal Home Purchase Plan and Islamic Buy to Let Purchase Plan), are built upon morally-binding promises between the customer (you) and the investor (UBL UK) under the principle of Diminishing Musharaka. We establish a partnership of mutual consent for the joint ownership of a property and rent our share out to you. You eventually become sole owner once all of the acquisition payments have been made.

To find out more, contact us on 0121 753 6000 to book a no obligation appointment with one of our Community Relationship Managers, or visit your nearest branch.

  FTV Rental Rate Minimum Finance Amount Administration Fee Early Repayment Charges  More Information
Islamic Home Purchase Plan (Self Occupancy) - Variable 80% 3.75% Variable £100,000 minimum finance amount 0.50% of the finance amount No ERC Find out more
Islamic Home Purchase Plan (Self Occupancy) - Variable 70% 3.60% Variable £100,000 minimum finance amount 0.50% of the finance amount No ERC Find out more
Islamic Home Purchase Plan (Self Occupancy) - Variable 60% 3.50% Variable £100,000 minimum finance amount 0.50% of the finance amount No ERC Find out more
Islamic Buy to Let Purchase Plan (UK Residents Only) - Variable 70% 4.10% Variable £100,000 minimum finance amount 0.50% of the finance amount No ERC Find out more
Islamic Buy to Let Purchase Plan (UK Residents Only) - Variable 60% 3.75% Variable £100,000 minimum finance amount 0.50% of the finance amount No ERC Find out more

Services

UBL UK provides a range of services to compliment your needs, helping you manage your day to day banking in accordance with your faith.

  Fees Features Ways to Manage Your Account Eligibility More Information
Islamic Current Account No monthly fees, some transaction may incur charges detail in the Ameen Islamic Tariff List Debit card, cheque book, Internet banking  Online and in-branch  Over 18's only Find out more
Send Money to Pakistan £3 for transactions below £150, free for transactions of £150 or more 24/7 service through our online and mobile app In-branch, online and on mobile UK residents only, must have a UK issued debit or credit card Find out more
Safety Deposit Box Fees from £175 3 different size options to suit your needs In branch Must be a UBL UK Current Account holder Find out more

Notification of early closure

The branch network and Customer Service Centre will be closing earlier than usual on Friday 20th December 2019, from 12pm. If you have any queries relating to this early closure, please feel free to come in and talk to a member of our UBL UK team who will be more than happy to help you.

UBL UK