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Fully Sharia’a compliant member welcomed into FLA |
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Friday, 21 March 2008 |
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The Finance and Leasing Association (FLA), the industry body for asset, consumer, and motor finance sectors, is pleased to announce that Bank of London and The Middle East plc (BLME) has become the latest business to join its Asset Finance Division. BLME, a fully Sharia’a compliant wholesale bank was launched in July 2007 and is the first Islamic bank to become a full member of the FLA.
FLA’s Director General, Stephen Sklaroff, welcomed the news: “We are delighted to welcome Bank of London and The Middle East as the first wholly Sharia’a compliant bank to join the FLA. We look forward to a long and happy working relationship.”
Humphrey Percy, CEO of BLME said: “We are pleased to be a full member of the FLA, which for many years has provided a strong platform for UK leasing businesses. Our membership is testimonial to the increasing demand for Islamic financial products in the UK as well as our commitment to providing innovative lease financing solutions in the UK. We look forward to a long lasting working relationship.”
About FLA
The Finance & Leasing Association (FLA) represents the consumer credit, asset and motor finance industries. Our members fund around 30% of all fixed asset investment (except real estate and own-account software) in the UK, over a quarter of all unsecured lending, and over a half of all new car registrations. Our member companies include banks, building societies, leading retailers in many sectors, and manufacturing companies, as well as a range of independent finance companies.
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Last Updated ( Friday, 21 March 2008 )
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