How it works

The Premier Deposit Account (PDA) is operated under the Islamic Finance principle of Agency. BLME acts as your agent to achieve an agreed rate of profit for the period of investment. As your agent BLME will constantly monitor your investment to ensure that we achieve the profit rate agreed with you.

Should you choose to invest with BLME, we will require you to open a BLME current account and complete the application process.

The Premier Deposit Account benefits and key facts:

• Available for investments in Pounds Sterling, US Dollars, and Euros
• Investments into each PDA must meet the entry levels of the selected currency £50,000, $85,000, or €75,000
• Sharia'a compliant profit rates on your investment
• Profit on investments will be paid at maturity and annually in the case of investments over one year
• Profit paid gross of tax
• Available to personal customers, businesses, charities and associations
• A BLME current account must be opened by providing a UK cheque in your name or via direct account transfer with you as the originator
• Available funds must be in your BLME current account at the start of the PDA investment term
  
• There is no facility to withdraw funds before the maturity date
• The funds will only be used by the bank in Sharia'a compliant investments