LONDON, UK, Oct. 09, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- BLME has completed its first Sharia compliant transaction on the LiquidX Platform by acting as a funder to another participant within the LiquidX network.
“We are extremely pleased to open our platform to BLME and Sharia compliant transactions,” commented Zane Baring, Director at LiquidX London. “We offer institutions access to liquidity and new investment opportunities, and we look forward to working with other customers interested in Sharia compliant transactions.”
The LiquidX platform handles a range of transactions, including accounts receivables, supply chain finance, inventory finance, loans and insurance.
“As a client centric bank, we always look at new ways to support our clients’ transactions in a flexible and transparent manner. LiquidX provides an excellent platform for us and we are delighted to have worked with them to successfully complete this important transaction. We look forward to working together on similar transactions in the future,” said Alex Collingwood, Head of Commodity Trade Finance at BLME.
The financial and technological solutions that LiquidX has developed can now benefit Sharia compliant clients globally.
About LiquidX
Through its leading technology and diverse network of global participants including major corporations, banks, institutional investors, and insurance providers, LiquidX provides an efficient and flexible platform for participants to transact across the trade finance and working capital asset class in one place. LiquidX has executed over $13 billion of trade volume and processed $52 billion in post trade settlements since 2016. For more information about LiquidX, please visit www.liquidx.com.
About Bank of London and The Middle East
BLME is an independent wholesale Sharia compliant bank based in London. 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: Wealth Management, Commercial Finance and Treasury. BLME is regulated by the Financial Conduct Authority and Prudential Regulation Authority and BLME DIFC Branch is regulated by the DFSA. For more information please visit our website www.blme.com