Perhaps because Shariah banking has received such a cold reception in Great Britain, British Shariah-compliant banks are now moving into the Islamic world.

It is yet to be seem how this will work out for them, since Qatar just moved to shut down the Shariah-compliant divisions of HSBC, Barclays and Standard Chartered in that country.

Nevertheless, the Bank of London and The Middle East (BLME) has been granted a licence by the Central Bank of Bahrain to open an office in that kingdom…

http://www.gulf-daily-news.com/NewsDetails.aspx?storyid=299145

 

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