Bank of London and the Middle East, or BLME, is an independent Sharia-compliant bank founded in 2006 and authorised by the Financial Services Authority the following year. It is the largest Islamic bank in Europe and offers wealth management, corporate banking and treasury services. The bank is headquartered in London.
Bank of London and the Middle East Products and Services
BLME offers a range of specialist wealth management services for high net worth clients including real estate investment and specialist financing for big-ticket purchases such as yachts or aircraft. These clients also have access to in-house BLME experts in deposit products, residential mortgages, banking services, leasing, a concierge service and more.
BLME also works in corporate financing, with particular support for companies linked to the Gulf Cooperation Council area with a minimum operating profit of £1 million. These businesses can come from a number of sectors including transport, property, energy and health. Corporate banking is split into two main divisions; leasing solutions and trade finance. The Treasury division is also on hand, to provide foreign exchange and deposits.
All services offered by the Bank of London and the Middle East are compliant with Sharia finance laws. Interest is forbidden, so your account will never earn interest, nor will you pay interest on it. Sharia compliance also means that the bank will not invest your money in any activity Islam considers against the public interest, such as alcohol, pornography, gambling or the arms trade.
Security at Bank of London and the Middle East
Bank of London and the Middle East is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The bank’s security, data and privacy policies are freely available on their website.
Bank of London and the Middle East Contact Details