Published: May 20, 2013
European Islamic bank to open first overseas office in the Dubai International Financial Centre.
Bank of London and the Middle East, an Islamic-finance institution, has opened a representative office in Dubai.
The new office, in the Dubai International Financial Centre (DIFC), is the bank’s first overseas office.
In a statement announcing the move, CEO Humphrey Percy said: “The legal framework of the DIFC, together with Dubai’s stated ambition to become the ‘Capital of the Islamic economy’, make Dubai the obvious choice as the location for BLME’s first overseas representative office.”
Patrick Rochette, previously BLME’s head of international client coverage and product development, will be the bank’s principle representative and main point of contact for the region.