Bank of London and The Middle East (BLME) has announced the opening of a branch in the Dubai International Financial Centre.

BLME is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

The new BLME branch will primarily be focusing on professional private banking clients and family offices located in the DIFC, offering them a comprehensive wealth management service, said a statement from the bank.

BLME are known for their experience in the UK Real Estate sector and they will be sharing this expertise with GCC clients. BLME DIFC Branch will continue to benefit from the support functions based out of BLME’s head office in London, it added.

Andrew Ball, the head of Wealth Management, said: "This is an important milestone for BLME. The GCC is key to BLME’s business and opening a branch in the DIFC reflects our commitment to the region and means that we can better serve our clients across the GCC."

As a branch, BLME DIFC will manage client relationships, on-board new clients and arrange investment opportunities, it stated.

Rayan Kazerooni, SEO of the DIFC branch, said: "Part of the DIFC and DIEDC’s ambition for Dubai to be the capital of the Islamic Economy is to build a centre of excellence for Islamic finance and support the expansion of Islamic finance by growing the connections between the UAE and the UK."

"As a bridge between the GCC and the UK, our branch status further supports this ambition and provides a tangible link to the UK for our regional clients," he added.-TradeArabia News Service