History

The Ahli United Bank (UK) is a wholly owned subsidiary of the Ahli United Bank BSC (AUB), which is a commercial and investment banking group that offered wealth management, retail, corporate, treasury, offshore and private banking services mainly in Bahrain, Kuwait, Qatar, Oman, Egypt, and Iraq. All together, the AUB group, through its subsidiaries and associates, operates 93 branches and employs over 3,000 staff.

Their vision is to create an unrivalled ability to meet customer needs, provide fulfillment and development for their staff, and to deliver outstanding shareholder value. Their strategy is to expand through growth and acquisition to act as a "multifaceted financial bridge" between international financial markets and their Gulf clients. Their strategic plan has proven successful as they continue to show increase in revenues and assets with a reduction in its cost-income ratio over the past four years. And despite the recent global financial challenges other financial institutions have faced, AUB still achieved a net profit of over US$85.9 million for the first quarter of 2009. A rise of over 10.7% in operating income while costs declined by 11.8% during the first quarter. As of March 31, 2009, the groups assets totaled US$24 billion while deposits increased by US$1 billion, an increase of 6.8% over 2008.

The Ahli United Bank (UK) formally known as the United Bank of Kuwait PLC, was first formed in 1966. The intention was to ease the expansion of business between Kuwait and the global financial markets. They provide clients support and financial advice while they are living in the UK. There are extenuating conditions and circumstances for Muslims, who are looking at offshore investments and are visiting from the Gulf area. The Ahli United Bank has a broad mandate servicing clients from the UK, the Arab world and the Gulf area. They are dedicated to assisting Islamic home purchases and were the first regulated bank to issue mortgage products specifically for Muslims in the UK.

Remortgages offered through Ahli United Bank

Ahli United Bank (UK) first started to offer mortgages in 1984, and since then, they have specialized in offered mortgaged to meet the specific needs of clients to comply with the regulations from the Gulf and the UK. This type of mortgage requires specific knowledge that is offered through their dedicated teams. They understand the intricacies involved whether the purchases are from individuals, a corporation, or a trust vehicle.

Manzil Home Purchase Plans are different from conventional mortgages and are offered along two different routes of Islamic Finance - Murabaha, and Ijara Ijara, which are approved under Shari'ah law. They specialize in Central London properties with short term leases. As far as remortgage options, Ahli United Bank offers a variable rate term, that includes a loan to ratio of at least 75%. There are no set up fees, and early repayment is not applicable. Due to the special nature of these mortgages, contacting Ahli United Bank UK in person is the best option.