Published: September 27, 2010
Bank says move meets demand for shariah-compliant products.
Bank of London and The Middle East (BLME), a London-based Islamic bank, has created an Islamic capital markets desk.
The bank says the move is in response to market demand for Islamic assets and sukuk by established issuers.
The desk will be headed by Dr Massoud Janekeh and will provide shariah-compliant products to UK and international corporates. Janekeh was previously head of trade and business finance at the bank.
Humphrey Percy, CEO of BLME, said: “The development of Islamic capital markets is critical to the growth of global Islamic banking. London’s capital markets offer more depth and diversity that can help to overcome sector issues such as liquidity and risk management.”