Bank of London and The Middle East (BLME), one of Europe’s leading providers of Islamic Finance has opened a branch in the Dubai International Financial Centre (DIFC).
BLME is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Bank of London and The Middle East plc DIFC Branch is regulated by the Dubai Financial Services Authority.
BLME DIFC Branch will primarily be focusing on professional private banking clients and family offices located in the DIFC, offering them a comprehensive wealth management service. BLME are known for their experience in the UK Real Estate sector and they will be sharing this expertise with GCC clients. BLME DIFC Branch will continue to benefit from the support functions based out of BLME’s head office in London.
“This is an important milestone for BLME. The GCC is key to BLME’s business and opening a branch in the DIFC reflects our commitment to the region and means that we can better serve our clients across the GCC,’’ said Andrew Ball, Head of Wealth Management.
As a branch, BLME DIFC will manage client relationships, on-board new clients and arrange investment opportunities.
“Part of the DIFC and DIEDC’s ambition for Dubai to be the capital of the Islamic Economy is to build a centre of excellence for Islamic finance and support the expansion of Islamic finance by growing the connections between the UAE and the UK. As a bridge between the GCC and the UK, our branch status further supports this ambition and provides a tangible link to the UK for our regional clients,” said Rayan Kazerooni, the newly appointed SEO of BLME DIFC.
The approval of the DIFC branch is central to BLME’s strategy to become the leading UK wealth provider to UAE citizens. As an Islamic bank, the DIFC is an excellent base for BLME as they share in the commitment to building Islamic finance and supports the Emirate’s ambition to be the Capital of the Islamic Economy.