Sultan Choudhury, CEO of Al Rayan Bank, has received an Order of the British Empire (OBE) from His Royal Highness, Prince William, the Duke of Cambridge.
Choudhury was appointed OBE in the Birthday Honours of Her Majesty Queen Elizabeth II, in recognition of his services to Islamic finance. He was accompanied to the investiture by his wife, three children and father.
A driving force behind Al Rayan Bank’s success and Islamic banking’s increasing popularity in the UK, Choudhury was part of the management team that obtained Western Europe’s first authorised Islamic banking licence in 2004.
He has since grown the Birmingham-based bank to become the UK’s largest Islamic bank and one of the fastest growing banks in the country. In addition, he has worked tirelessly to raise the profile of Islamic banking in the UK.
Al Rayan Bank’s experts have worked with the UK Government on initiatives that have helped to establish the country as a major global centre for Islamic finance, through the creation of a legal, regulatory and taxation environment in which Sharia compliant finance can compete on an equal footing with conventional.
As an independent UK bank, Al Rayan Bank is authorised by the Prudential Regulation Authority, regulated by the Financial Conduct Authority and the Prudential Regulation Authority and is a member of Financial Services Compensation Scheme.
BQ caught up with Choudhury back in 2014 to hear the story behind the bank. You can read the full interview here.