Bringing you live news and features since 2006 

BLME launches Sharia’a compliant deposit account


Bank of London and The Middle East has launched its Premier Deposit Account, the first online Sharia’a compliant PDA in the UK. 

BLME says the account gives the investor competitive returns on their investment when compared with other UK high street institutions’ deposit products. 

BLME pays profit upon maturity of the original agreement or on the anniversary of the investment, whichever comes first. 
Humphrey Percy (pictured), chief executive of BLME, says: “The launch of the PDA highlights London’s leading role in the development of Sharia’a compliant products in Europe. Since its establishment in 2007, BLME has witnessed a growing demand among medium to high net worth individuals for a banking option that incorporates the transparent and ethical principles inherent in Islamic finance with competitive returns. With the financial climate improving, individuals are looking to diversify their investments that were previously solely held by UK high street banks.”

The account will only be accessible online via the bank’s website. It will quote in Sterling, Dollars and Euros.

Latest News

News came last night from the US that the SEC has approved CBOE’s proposal to list and trade VanEck’s spot..
Irish domiciled funds surpassed EUR4.3 trillion AuM (Assets under Management) at end-March 2024, a 15 per cent increase in net..
European white label ETF platform, HANetf, has announced its total assets under management (AUM) has now exceeded USD4.31 billion...
New research from European ETF provider Tabula Investment Management shows investors are expecting improvements in ESG from the gold mining..

Related Articles

Timothy Rotolo, Range Funds
In 2023, Timothy Rotolo launched his business, Range Fund Holdings, the parent company for Range Indices and Range ETFs, followed...
Dan Miller, IQ-EQ
With just over a week to go till T+1 settlement begins in North America, Canada and Mexico, time is of...
Emily Spurling, Nasdaq
Last October’s ETF Express US Awards 2023 found Nasdaq winning Best Index Provider – ESG ETFs and Best Index Provider...
Vinit Srivistava, MerQube
Index provider, MerQube, launched in 2019, with the aim of providing a “technology-driven answer to the most complex, rules-based investment...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by