AlRayan Bank Review - Halal Finance Products

A children's savings account that AlRayan describes as its first kids product, explicitly approved by the bank's Shariah Supervisory Board. Parents or guardians open and operate the account for the child; there is no minimum balance requirement, and per the retail tariff the initial deposit for minor accounts is just QAR 500, a fraction of the adult thresholds. For non-Qatari minors the guardian must hold an AlRayan account with salary transfer. Profit is calculated quarterly from the bank's Mudaraba pool. The product page is short on specifics such as the expected rate and age limits, which follow the bank's standard account terms (verified 2026-08-04).

AlRayan's residential property financing for Qataris, residents and non-residents, covering ready property and under-construction units from established developers, for buy-to-live, buy-to-let, buyouts from other banks and debt consolidation. QCB financing-to-value caps apply: up to 80% for Qatari clients and up to 75% for residents and non-residents. Salary-backed pricing follows the published formula of QMRO/N Lending + 1.50% (retail, salary QAR 10,000 to 34,999) or + 1.25% (Premier, QAR 35,000+); with QMRO at 4.35% effective 11 December 2025 that is 5.85% or 5.60% per annum. A promotional 3.50% APR applies for the first two years on financings of QAR 1 million+ booked 26 April to 31 August 2026, with a one-month-salary cashback capped at QAR 100,000.

AlRayan's corporate bank finances businesses through the full classical toolkit, documented with working definitions on its financing products page: Murabaha to the purchase order (cost-plus sale on customer promise), Ijarah (leasing), Ijarah Muntahia Bittamleek (lease ending in ownership transfer), Istisna'a (construction/manufacturing sale with delivery obligation), and Mudaraba (capital-plus-work partnership). The corporate franchise gained scale from the November 2021 merger with Al Khalij Commercial Bank, which created a combined bank with over QAR 182 billion in assets at completion and an explicit mandate for SME development and corporate lending, alongside trade finance, cash management, and a Finastra-based corporate digital platform launched with recent press coverage.

AlRayan's flagship savings product with a published tier table in its customer undertaking: 2.00% per annum expected profit on the first QAR 100,000, 3.00% on QAR 100,001 to 2,000,000, and the standard savings rate of 1.15% on balances above QAR 2 million. Profit accrues daily on the day-end balance at the tier rate and credits monthly. The account is QAR-only, one per customer, and tolerates one debit transaction per month (ATM, counter, transfer or POS); a second reduces that month to the standard rate. Rates are reviewed and may change every quarter. It opens in seconds inside AlRayan Go or internet banking and includes a personalised debit card (verified 2026-08-04).

AlRayan's cash financing product executed through published commodity Murabaha and Tawarruq agreements: the bank sells Shariah-acceptable commodities (metals other than gold and silver) to the customer at a deferred price and can sell them on the customer's behalf to deliver cash. Salary-backed pricing is the published QMRO/N Lending + 1.50% (retail, salary QAR 10,000 to 34,999) or + 1.25% (Premier, QAR 35,000+), 5.85% or 5.60% at the 11 December 2025 QMRO of 4.35%. Financing against a fixed deposit prices at 2% above the deposit's rate. A 2023 education campaign showed the product's envelope: up to QAR 2 million for nationals and QAR 400,000 for expatriates with a three-month repayment holiday and rates from 7.00% at that time.

Vehicle financing from AlRayan Bank priced on the published salary-backed formula: QMRO/N Lending + 1.50% per annum for retail customers (monthly salary QAR 10,000 to 34,999) and + 1.25% for Al Rayan Premier customers (QAR 35,000+), which computes to 5.85% and 5.60% at the QMRO benchmark of 4.35% effective 11 December 2025. Financing not backed by salary transfer is priced deal-by-deal. The retail tariff publishes the ancillary costs: QAR 91.25 commodity fee per financing, takaful up to 1.281% of the finance amount, QAR 100 cancellation after approval, and 0% profit refund charge on early settlement through other banks. The bank has also promoted green vehicle financing and offers trainees up to QAR 250,000 under the NextGen program.

A banking package for Qatari trainees aged 18 and above who hold a valid employer training contract with a stipend of at least QAR 4,000 a month, valid 7 July 2026 to 6 July 2027. The bundle includes a savings account with personalised debit card, the Eqtisadi discount card, eligibility for vehicle finance up to QAR 250,000 at a preferred profit rate (subject to credit evaluation), a 25,000 Go Points welcome bonus paid on successfully availing vehicle finance, access to a high-profit savings account with up to 3% expected profit, entry to the Al Tijori prize draws, and a refer-and-earn reward of QAR 1,000 per successful referral.

A defined benefits package for Qatari customers aged 18 to 21 who transfer their salary to AlRayan, valid 7 July 2026 to 6 July 2027. Benefits: a salary-transfer cashback of 7.5% of gross monthly salary capped at QAR 3,375, a welcome bonus of 25,000 AlRayan Go loyalty points, a preferential 3.99% per annum profit rate on the customer's first financing with the bank (subject to credit policy), and access to special deposit rates. It is a packaged on-ramp to the bank's account, card and financing shelf rather than a standalone account type, and all credit approvals remain at the bank's discretion.

AlRayan's prize-linked savings account with a QAR 7.6 million annual prize pool and 256 winners a year. Maintaining an average monthly balance of QAR 10,000 earns automatic entry, and every additional QAR 10,000 adds another entry. Draws run at three levels: twice-monthly draws paying QAR 10,000 to 10 winners each (240 winners a year), a monthly draw paying QAR 100,000 to one winner, and a quarterly grand draw paying QAR 1 million. Transferring a salary adds one to three bonus entries depending on salary band (QAR 20,000 to 34,999: one; QAR 35,000 to 49,999: two; QAR 50,000+: three, first transfer only). Deposits and withdrawals stay flexible throughout, and the full draw calendar through September 2026 is published.

AlRayan Bank's Shariah-compliant current account for day-to-day banking, available as a single or joint account. The bank commits that deposited funds bear no investment risk and the full available balance is repayable on demand, which is the classic Islamic demand-deposit promise. Entry requirements differ sharply by nationality: with salary transfer, Qataris need a QAR 4,000 monthly salary and non-Qataris QAR 10,000 (QAR 15,000 if the employer is not on the bank's approved list). Without salary transfer, Qataris must place a QAR 100,000 initial deposit and non-Qataris a QAR 350,000 initial fixed deposit. Account opening, minimum balance and the first 25-leaf cheque book are free.

AlRayan Bank's core Mudaraba savings account: deposits join the bank's investment pool, profit is shared, and the account keeps instant access without withdrawal penalty. Entry thresholds are nationality-based: QAR 20,000 initial deposit for Qataris, QAR 50,000 for non-Qataris who must also earn at least QAR 20,000 a month; minor accounts open from QAR 500. The bank's published Mudharaba rate sheet shows it retains 95% of pool profit on savings accounts as Mudarib, leaving 5% to depositors, and the expected profit rate figures themselves are published only in a PDF whose numbers are embedded as graphics and were not machine-readable at crawl (2026-08-04).

AlRayan's fixed term investment deposit under an explicit unrestricted Mudaraba contract, opening from QAR 20,000 (or equivalent in USD, EUR, GBP and GCC currencies). The product page quotes elected periods of 3, 6, 12 and 24 months with quarterly profit distribution, while the current rate sheet grids tenors from 1 month to 2 years across QAR, USD, EUR and GBP; the published Mudharaba share sheet extends to 3-year and 5-year deposits. The bank's Mudarib share falls with tenor: 90% at 1 to 3 months, 85% at 6 months, 80% at 9 to 12 months, 70% at 3 years and 60% at 5 years. Deposits auto-renew unless the customer gives written notice four days before maturity, and early withdrawal forfeits the investment return.