Ayan Capital

Ayan Capital, Sharia-compliant vehicle finance in the UK

Ayan Capital Ltd is a British financial institution authorised and regulated by the Financial Conduct Authority (FCA) that offers car finance structured according to Islamic finance principles. Its model does not involve lending money, but rather acquiring the vehicle as owner and leasing it to the customer through a lease agreement with an option to purchase. The company presents this scheme as suitable for drivers of any faith, not only Muslims.

How the Ijara wa Iqtina contract works

The product is structured as an Ijara wa Iqtina contract, a lease that ends with the transfer of ownership. Ayan Capital buys the car from the dealership chosen by the customer and remains the owner during the lease term. The customer pays a fixed monthly rental agreed in advance, which covers the use of the vehicle and contributes to its eventual acquisition. At the end of the contract, a separate sale and transfer agreement is signed to formalise the transfer of ownership, with no additional payment if the lease obligations have been met.

The institution stresses that it does not charge interest (riba) at any stage and that profit is earned on a real asset, not on time. It also states that all costs are fixed and communicated before signing, to eliminate uncertainty (gharar). The model is audited by Alhamd Advisory and Amanah Advisors in accordance with AAOIFI standards, the international reference in Islamic finance.

Customer profiles and vehicle types

Financing is aimed at several distinct segments:

• Individuals: personal-use finance for any vehicle purchased from an approved dealership.
• Businesses and SMEs: solutions to renew or expand commercial vehicle fleets, with terms tailored to the business.
• Private hire drivers: specific support for Uber, Bolt, FreeNow and PCO drivers, with weekly payments adjustable to earnings.
• Chauffeurs and premium vehicles: access to high-end cars for chauffeur services, with flexible plans and no hidden fees.
• Black Cab: finance aimed at London taxis.
• Electric cars and rent to buy: product categories included in its catalogue.

The customer can choose the vehicle from any approved dealership, as the institution does not hold its own stock. The declared network exceeds 8,000 dealerships in the UK.

Application process and conditions

The procedure is carried out entirely online and consists of four steps: application and quick decision with a personalised plan; adding the details of the chosen car with a full report; secure communication of the dealership's bank details so that Ayan Capital pays the amount directly; and collection of the vehicle once the dealership has been paid. The application takes about two minutes and does not require an office visit.

The institution performs a soft credit search at the application stage, which leaves no mark on the credit history. Only if the customer decides to continue and signs is a full search carried out, which may affect their profile. Financing is subject to affordability and creditworthiness assessment. According to published information, disbursement can be completed on the same day as approval, although the pace depends on the dealership confirming receipt of funds.

The catalogue shows rates from 7.9% APR equivalent, with a representative 11.9% APR. The company clarifies that it does not charge interest and that the APR reference is provided solely for comparison purposes, as the customer pays an agreed rental-profit charge. There are no penalties for early repayment or full settlement of the contract; paying ahead reduces the total rental charges. Comprehensive insurance and warranty are not included, although the warranty can be financed if it appears on the dealership invoice.

Geographic coverage and headquarters

Ayan Capital operates in England, Scotland and Wales, and notes that it does not yet serve Northern Ireland. The company serves customers at its London headquarters, on the fourth floor of 1 Kingdom Street, Paddington Central, by appointment arranged by phone or WhatsApp. The company is registered in England and Wales and its registered office is at 20 Wenlock Road, London.

Track record and backing

The company states it has more than twelve years of experience in Islamic finance and claims that over 100,000 people have started their journey with it. Its founders created Alif, a platform that according to the company has more than ten million customers. Ayan Capital Ltd is authorised and regulated by the FCA with reference number 1022208 and complies with the 2018 data protection regulations under registration ZB613240. FCA regulation applies only to certain regulated activities and not to all of the institution's services.

Location and contact

4th Floor, 1 Kingdom Street, Paddington Central, London W2 6BD · Phone: +44 20 3802 0292