Algbra
Shariah-compliant, values-based finance for the two billion people underserved on ethics.
Shariah-aligned, ethics-first UK fintech.
- Who holds it
- An e-money institution holds your balance in a safeguarding account — E-money institution (FCA, FRN 952360, UK).
- The ledger
- The e-money institution’s own ledger.
- If it fails
- Safeguarded funds are returned in administration — ring-fenced, but access can be frozen and slow.
Derived from Algbra’s regulation type and custody — a class of protection, not a guarantee. Limits and eligibility vary by scheme, balance and jurisdiction; confirm before you rely on it. What happens if a neobank shuts down →
The facts
| Category | traditional · faith-based |
| HQ | London, UK |
| Founded | 2020 |
| Custody | Custodial |
| Regulation type | E-money institution |
| License detail | E-money institution (FCA, FRN 952360, UK) |
| Card | MC · Debit |
| Cashback | Ethical rewards |
| Stablecoins | No |
| KYC | Yes |
| Active regions | Europe |
| Countries | United Kingdom |
| Founders | Zeiad Idris, Fizel Nejabat |
Verified links: official site ↗ · terms ↗ · @algbra ↗
Common questions about Algbra
What is Algbra?
Algbra is a fiat neobank built for faith-based, headquartered in London, UK and founded in 2020. Your money is held custodially, so Algbra or its partner bank holds the balance and you hold a claim on it. It is regulated as an e-money institution (E-money institution (FCA, FRN 952360, UK)).
Does Algbra have a card, and where can you use it?
It issues a Mastercard debit card. It is available in Europe.
Does Algbra require KYC?
Yes. Algbra requires identity verification (KYC) to open an account, as a e-money institution.
What does Algbra cost?
From the verified fields: cashback Ethical rewards. Cashback and yield are "up to" figures that change constantly and often depend on a paid plan — confirm current terms with Algbra before relying on them.
Head-to-head
Peers
Monzo · Wise · Starling Bank · Atom Bank · Zopa Bank · Chase UK
Algbra appears in
Neobanks authorised as e-money institutions (48) · Neobanks available in Europe (144) · Faith-based and Islamic neobanks (7) · Neobanks that issue a Mastercard (150) · Neobanks in United Kingdom (29)
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.