-
Qatari-owned British bank investigated over money laundering

A Qatari-owned British bank is under investigation over money laundering, The Times reported on Thursday, saying that the bank provides financial services to numerous Islamist-linked organizations.
Al-Rayan Bank’s operation has been restricted until the Financial Conduct Authority (FCA) reaches an outcome on the investigation, according to the British daily newspaper.
The bank, whose largest shareholders are Qatari state institutions, is the oldest and largest Islamic bank in the UK.
Qatar has long been criticized for its support of Palestinian militant group Hamas and the Muslim Brotherhood, in addition to being accused of funding terrorism.
The Times had revealed in an earlier report that the bank’s British account holders include a charity banned in the US as a terrorist entity and a mosque whose trustee was a member of Hamas.
“Al Rayan counts among its customers a charity banned in the US as a terrorist entity, groups that promote hardline preachers and a mosque whose long-term trustee is a Hamas leader,” The Times reported in its investigation.
Using publicly available records, The Times drafted a list of organizations which have an Al Rayan bank account, including pressure groups, charities, mosques, and funders of satellite TV channels.
Al-Rayan provides Sharia compliant retail banking services to more than 85,000 customers.
Until the investigation is over, the FCA requires the bank not to open new deposit accounts for those categorized as “high risk for the purposes of financial crime risk,” the newspaper says, adding that the bank must also reject any applications from “politically exposed persons (PEPs)” or people close to them.
Tags
You May Also Like
Popular Posts
Caricature
BENEFIT Sponsors BuildHer...
- April 23, 2025
BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”
opinion
Report
ads
Newsletter
Subscribe to our mailing list to get the new updates!