Principle: The stronger the connection
the more successful the business
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Bank of London and The Middle East plc (BLME) was first incorporated in London on 7th August 2006 under the name House of London and The Middle East. London was selected as the headquarters for BLME because it is the centre of finance, in particular for commodity and foreign exchange trading and Investment Banking. In addition, BLME believes that the future of Islamic finance depends on its ability to innovate and evolve. The UK and in particular the City of London provides direct access to a highly skilled and experienced workforce.
At that time, Humphrey Percy (BLME’s CEO) met with the original sponsors, Boubyan Bank, and together they identified a common set of ambitions to establish and build a wholesale Islamic bank which would be the market leader in Europe. BLME received authorisation from the FSA in July 2007 with a full set of permissions and European passporting. |
Since receiving authorisation BLME has gone from strength to strength, the Regulatory Business Plan has been met with private placements being completed in February 2007 and January 2008 bringing the total capital base to £250million. In January 2009, in line with the original Regulatory Business Plan, BLME launched the Asset Management and Private Banking divisions.
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Bank of London and The Middle East plc is authorised and regulated by the Financial Services Authority and is a company registered in England and Wales, company number 5897786. The registered office is:
Sherborne House, 119 Cannon Street, London, EC4N 5AT, United Kingdom.
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