IslamicFinance.de

Bank of London and the Middle East (BLME), the totally-Shariah based bank, is currently working on the development of a Shariah-compliant Absolute Return Fund. The bank, which has its own Shariah Supervisory Board (SSB), has been doing quite well since opening just three years ago and has been providing Islamic investment and finance services to the 15 million Muslim population in Western Europe, as well as customers in Turkey. Nigel Denison, director and head of asset management, explained that the bank's customer base includes people of all faiths who want a trustworthy place to bank. The bank currently has predominantly Kuwaiti shareholders and would someday like to build a presence in the Kingdom.