In August 2006 House of London and The Middle East (“HLME”) was incorporated as a UK company by our initial sponsors, Boubyan Bank. By July 2007 HLME had received a banking license from the UK Financial Services Authority and became Bank of London and The Middle East plc (“BLME”).
BLME was launched to bridge the UK and Middle East markets through Islamic finance with the aim of becoming the market leader in Wealth Management with a focus on Real Estate. London, as a key centre for global finance, was chosen as our base due to its strong tradition of financial innovation and creativity. London has also provided BLME with access to a highly skilled workforce and has supported the growth and promotion of Islamic finance.
By 2008 we had successfully completed our second private placement bringing BLME's total capital base to £250million. BLME Holdings plc was listed on NASDAQ Dubai in October 2013.
In addition to our London office, and to support BLME's growth and strategy, we opened an office in Dubai.