Al Baraka Banking Group, BLME in deal
Manama : Al Baraka Banking Group (ABG) has signed a Memorandum of Understanding (MoU) with the Bank of London & The Middle East plc (BLME), a Sharia’a compliant bank based in London.
The MoU was signed by Mohammed El Qaq, Senior Vice President & Head of Commercial Banking of Al Baraka Banking Group and Andrew Ball, Head of Wealth Management of BLME.
The deal provides both parties with opportunities to collaborate and gives BLME the chance to provide focused Al Baraka clients with investment opportunities in UK real estate and other UK sectors.
The signing ceremony was held at the headquarters of Al Baraka Banking Group at the attendance of a number of senior officials from the two institutions.
On the occasion, the President & Chief Executive of ABG, Adnan Ahmed Yousif said, “The MoU allows us to utilize BLME’s local expertize, network and intimate real estate market knowledge to connect our clients to investment opportunities within the UK.”
Giles Cunningham, Chief Executive Officer of BLME commented, “We are excited to enter the next stage in our growth plans with such an established name in Islamic Banking.”
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