UK's largest Islamic bank, shareholders include leading institutions in Kuwait

Sharjil Ahmed follows in the footsteps of world leaders including Margaret Thatcher and Hamad bin Jassim bin Jaber Al Thani

London, 19 June 2012 - Bank of London and The Middle East ("BLME"), the largest Islamic bank in Europe whose main shareholders are Boubyan Bank and the Public Institution for Social Security, has today announced that Sharjil Ahmed, a manager for the bank, was invited to represent the UK in the International Visitor Leadership Programme (IVLP), the U.S. Department of State's premier professional exchange programme that invites one person from each country participating every year.

Sharjil follows in the footsteps of ex-Prime Minister's Tony Blair, Gordon Brown, Margaret Thatcher, as well as Egypt's Anwar Sadat, Lebanon's Amin Gemayel and Qatar's Hamad bin Jassim bin Jaber Al Thani, all of whom were selected to participate in the IVLP early on in their careers.

The IVLP was established in 1950 with the goal of promoting a better mutual understanding between the U.S. and other countries through educational and cultural exchange, and linking foreign leaders with their U.S. counterparts, providing a solid professional experience and in-depth, substantive exploration of key issues and diverse, balanced approaches to these issues.

Sharjil Ahmed, Manager at BLME commented: "To have been asked to take part in the International Visitor Leadership Programme was a real honour. It was a truly fascinating experience that taught me a lot about cross boarder differences though social, economic, commercial and political exchange."

BLME believes that Sharjil's invitation demonstrates the growing international interest in Islamic finance and the leading position BLME has grabbed in Islamic banking and finance.

Sharjil joined BLME back in 2007 where he managed the UK institutional sales team.  He is also an associate director of the "Pakistan Recovery Fund" post 2010 floods launched by HRH Prince Charles last year.  Sharjil is certified with an Islamic Finance Qualification by the Chartered Institute for Securities & Investment.

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For more information contact: Leslie Mouawad I Bensirri PR I M: +965 99981334 I E: leslie@bensirri.com

About BLME
Bank of London and The Middle East plc ("BLME") is an independent UK wholesale Sharia'a compliant bank based in London. BLME received FSA authorisation in July 2007 and is the largest of its peers in Europe. It is led by a management team that brings together a combination of experienced international bankers and leading experts in Islamic finance.

BLME has three key business areas; Corporate Banking, Treasury and Wealth Management that includes Asset Management and Private Banking.

BLME is dedicated to offering innovative Islamic investment and financing products to businesses and high net-worth individuals in the European, US, Asian and MENA regions. To ensure that BLME's services and operations are wholly Sharia'a compliant, the Bank has a dedicated Sharia'a Supervisory Board ("SSB"). The SSB's role is to review contracts and agreements relating to all transactions ensuring that they are consistent with the principles of Islamic jurisprudence.

About Islamic banking
Islamic Finance upholds the principles of fairness, integrity and transparency. The principle of fairness is reflected in the risk and reward-sharing element that forms the foundation of every Islamic financial transaction. 

Islamic finance aims to create business activities that generate a fair and equitable profit from transactions that are backed by real assets. This method of financing avoids speculation, short selling and excessive credit creation whilst encouraging sound risk management procedures. 

Islamic banking has a robust system of risk management and self-regulation to ensure that each transaction is transparent and that the appropriate due diligence and higher standards of disclosure required are observed. To ensure compliance with these requirements each transaction and agreement is reviewed and approved by a Sharia'a Supervisory Board. This Sharia'a specific regulation and governance is in addition to the conventional regulation that applies to all UK based financial institutions. 

© Press Release 2012