Client Stories

Providing specialist advice to the Bank of London & The Middle East (BLME)

BLME is an award winning, shariah-compliant bank which provides real estate wealth management solutions and commercial real estate finance. Learn more about how we worked with them.

BLME's story

BLME has been named as Best Fixed Rate Account Providers for four years running in the Moneyfacts Awards olds and holds industry accolades from World Finance Best Islamic Bank in the UK and Islamic Finance News’ Best Islamic Bank.

BLME’s mission is to provide personalised financial solutions tailored to its clients’ needs with its array of international bankers, products specialists, and leading experts on hand to answer any client questions.

The project

Members of our Islamic finance team advised BLME in creating new terms and conditions for the launch of Nomo, the first international Islamic digital bank.

Nomo is a UK-based, shariah-complaint digital bank and part of BLME. Led by a team of innovators from across the globe who want to create a new digital future for Islamic digital banking, Nomo is designed for people with international lifestyles, enabling them to manage money easily through secure and smart technology.

This project was placed with our Islamic finance team owing to our long-standing relationship with BLME, which has been a key client of Foot Anstey for many years.

The solution and results

Partners, Imam Qazi and Anna Parker, as well as Senior Associate, Jos Style, provided specialist cross-border tax structuring advice relating to potentially complex issues caused by the death or incapacity of a customer residing overseas.

The team effectively collaborated with BLME’s other key legal advisors to provide a consistent and on-time product to support the launch of Nomo.

What did we have to say?

"We thoroughly enjoyed working with BLME to help launch Nomo. BLME is a well-respected bank and Nomo will only add to its offering and innovative way of delivering Islamic finance banking digitally. We provided pragmatic and easy to understand legal advice which enabled BLME to successfully launch Nomo."

Imam Qazi Partner, Head of Islamic finance at Foot Anstey