UK - London Islamic bank eyes Mideast expansion, woos Gulf residents

www.gulf-times.com - Shariah-compliant Bank of London and the Middle East (BLME) is targeting the thousands of rich Gulf residents who have ties to the UK to boost its corporate and private banking business. Britain’s largest standalone Shariah bank was set up in London in 2006 and does not have a presence in the Middle East, although expansion into this region was always part of the long-term plan.
It is now awaiting regulatory approval to start operations in the Gulf, initially with a representative office this year, and a branch or subsidiary in the longer term, chief executive Humphrey Percy told Reuters in an interview.
“The premise on which we set up BLME, which was to send skills and products and services and human capital in both directions, between London and the Middle East ... is just as valid now as in 2006,” said Percy.  (source)

UK - Bank of London and The Middle East plc ("BLME") receives a License from the Central Bank of Bahrain

Mr. Ahmed Al-Bassam, Director of Licensing & Policy, Central Bank of Bahrain (picture)

Manama, Kingdom of Bahrain - 8^th February 2011 - The Central Bank of Bahrain ("CBB") has granted a License to the Bank of London and The Middle East  plc ("BLME"), an FSA authorized Independent Wholesale Shariah-compliant bank based in London, to open an office in the Kingdom of Bahrain.

From its main office located in the city of London, BLME provides a wide range of Shariah-compliant banking services and advice to businesses and individuals, with a strong focus on Europe, the Middle East and North Africa regions, as well as the USA. The five core areas that set the foundations for BLME's offerings are Private Banking, Corporate Advisory, Corporate Banking, Asset Management and Markets division.

The Bahrain office will be BLME 's first overseas presence, through which the bank intends to tap the Middle East markets. (source)