BLME's PDA offers investors competitive returns on their
deposit with BLME when compared with other UK Financial Institutions' deposit
products. BLME pays profit upon maturity of the original agreement or on the
anniversary of the investment, based on whichever is earlier. The PDA is
covered by the UK's Financial Services Compensation Scheme (FSCS) 85,000 pound
deposit guarantee scheme.
BLME CEO Humphrey Percy said: "The launch of the PDA
highlights London's leading role in the development of Shariah-compliant
products in Europe. Since its establishment in 2007, BLME has witnessed a
growing demand among medium to high net worth individuals for a banking option
that incorporates the transparent and ethical principles inherent in Islamic
finance with competitive returns. With the financial climate improving,
individuals are looking to diversify their investments that were previously
solely held by other UK Financial Institutions."
