The Bank of London and the Middle East, which opens in London today, will bring “choice and depth” to London’s fast-growing Islamic financial services sector, according to chief executive Humphrey Percy.
London-based BLME is only the second independent, wholesale Islamic bank to be authorised by the UK’s Financial Services Authority. “Our proposition is strong. We’re well-capitalised, have a good team and strong institutional backers,” Mr Percy said.
The bank, which is 20 per cent owned by Kuwait’s Boubyan Bank, has raised £175m to date.