BLME Signs Islamic Banking Deal With Global Marine for Wind
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Bank of London and The Middle East Plc, the London-based Islamic bank, signed a 14 million-pound ($22 million) deal to help Global Marine Systems Ltd. buy a vessel to install subsea power cables at offshore wind farms.
The leasing transaction with the Essex, England-based marine technology and engineering company is the Shariah-compliant bank’s first in the renewable energy industry, according to a statement from the bank.