Of London And The Middle East Launches Islamic Capital Markets Desk In Response To Market Demand For Islamic Assets And Sukuk
Bank of London and The Middle East plc (BLME), London's leading wholesale Sharia'a compliant bank, has created an Islamic capital markets desk in response to market demand for high quality Islamic assets and sukuk by established issuers.
The Islamic capital markets desk, which will be headed up by Dr Massoud Janekeh, will provide UK and international corporates with robust and commercially attractive products that offer a genuine alternative to conventional financing instruments.
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.
"As the largest wholesale Islamic bank in Europe, BLME is well positioned to facilitate the issuance and distribution of sukuk, as well as a growing range of innovative Islamic investment products that can help to meet investor demand for a greater choice of alternative and relatively secure investment products."
Prior to becoming head of Islamic capital markets at BLME, Dr Massoud Janekeh was head of Trade and Business Finance at the bank. In his new role, Dr Janekeh will be responsible for managing the capital markets desk, as well as balance sheet management for BLME. Rodney Ballard, previously a director of Trade Finance at BLME, has been promoted to head of Trade Finance. He will be joined by Alfonso Rodriguez, who has moved from Barclay's Trade Finance department to become manager of Trade Finance.