London sharia bank targets well-off Gulf clients: BLME CEO

Sharia-compliant Bank of London and the Middle East (BLME) is targeting the thousands of rich Gulf residents who spend part of the year in London, to boost its private banking arm, its head told Reuters. The Bank will offer investors access to leased assets such as equipment, trucks, railway carriages and aeroplanes. The Bank's customers will invest in short-term revolving finance facilities, which allow a borrower to draw down and repay amounts for short periods throughout the life of the facility.