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Kestrl Ltd
Private company
IndustryFinancial services
Founded2019; 3 years ago (2019)
HeadquartersRopemaker street,
City of London,
United Kingdom
Key people
  • Areeb Siddiqui, CEO
  • Daeng Termizi COO
  • Budgeting
  • Saving
  • Investment Management
  • Retail Banking

Kestrl: The Muslim Money App is an Islamic Fintech based in the United Kingdom. Kestrl's mission is to help Muslims to grow their wealth, without having to compromise on their religious beliefs.[1]. Headquartered in London, Kestrl operates as an Open Banking agent under the Financial Conduct Authority,[2] and was founded by Judge business school|University of Cambridge MBAs, Areeb Siddiqui and Daeng Termizi in 2019[3]. Since its founding, Kestrl has received over £400k in funding and launched its budgeting tool and sharia compliant investment marketplace for public download[4].


Kestrl began in 2019 after co-founders Areeb Siddiqui and Daeng Termizi met whilst studying towards an MBA at the University of Cambridge. Together they faced a shared frustration, despite both being practicing Muslims it was difficult to find Banking and Investment solutions that matched their Islamic Finance|religious requirement to avoid Interest|interest and other unethical activities.

Combining their skills in Management Consulting and Islamic Banking, and bringing on additional co-founders Ayaz Siddiqui as CFO and Irfan Radzi as CTO, Kestrl was formed in November 2019. In January 2020, Kestrl raised £135k from Angel Investors and brought on strategic advisors, most notably Sultan Choudhury|Sultan Choudhury OBE, former CEO of the UK’s largest Islamic Bank Al Rayan Bank|Al Rayan[5]. In July 2020 Kestrl launched a beta of its first product, an Open Banking enabled budgeting tool after becoming an authorised agent of the FCA.

In December 2020 Kestrl raised £250k from a crowdfunding round on Seedrs[6], as well as a sharia compliant Convertible loan|convertible loan note from the University of Essex.

In April 2021, Kestrl launched its budgeting tool for public download on the AppStore and GooglePlay, followed swiftly by the launch of its sharia compliant marketplace, bringing aboard fellow Islamic Fintech’s Yielders, Minted, Simply Ethical and Qardus as strategic partners.

Senior Leadership

  • Chief Executive Officer: Areeb Siddiqui (since 2019)
  • Chief Operating Officer: Daeng Termizi (since 2019)
  • Chief Financial Officer: Ayaz Siddiqui (since 2019)
  • Chief Technology Officer: Irfan Radzi (since 2019)
  • Head of Data Science: Mus'ab Shaharom (since 2020)

Mobile Apps

Kestrl does not have any physical branches and serves its customers through its mobile apps available on the AppStore and Google Play|Google Play. Kestrl's app allows users to connect multiple bank accounts and produce a bespoke budget for them to track each month. It also provides a sharia compliant investment marketplace, for users to view different assets, compare and purchase them within the app.

In future, Kestrl will be launching halal savings features, debit cards and home purchase solutions.


Kestrl received awards for Best Islamic Challenger bank|Digital Bank and the Most Promising Islamic Fintech at the World Islamic Fintech Awards 2020[7]


  1. Hinchcliffe, Ruby (7 May 2020). "Kestrl to offer UK consumers ethical banking alternative". FinTech Futures. Fintech Futures. Retrieved 4 August 2021.
  2. "FCA register". FCA register. Financial Conduct Authority. Retrieved 4 August 2021.
  3. "Kestrl - the Islamic fintech putting ethics and faith at the forefront of personal finance innovation in the UK - News & insight". Cambridge Judge Business School. 15 March 2021. Retrieved 4 August 2021.
  4. Butler, Alicia. "Meet the British millennial who is bringing Islamic finance to the masses". Arabian Business. Retrieved 4 August 2021.
  5. Jivraj, Hassan. "UK payments and wealth management platform Kestrl readying summer roll-out". Salaam Gateway - Global Islamic Economy Gateway. Retrieved 4 August 2021.
  6. Hurst, Samantha. "Overfunding: Mobile Budgeting App Kestrl Quickly Surpasses £160,000 Funding Target through Seedrs Round". / Retrieved 4 August 2021.
  7. Tan, Vineeta (8 April 2021). "World Islamic Fintech Awards 2020: Rainbow after the storm". IFN Fintech. Retrieved 4 August 2021.

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