Bank of London and The Middle East (BLME) 90 Day Notice Account (Issue 10)
Islamic Bank Accounts in England
BLME's notice savings account paying 4.30% gross quarterly / 4.37% AER expected profit (as of 20 May 2026). Opening balance 10,000 GBP, minimum ongoing balance 1,000 GBP, unlimited withdrawals of 1,000 GBP+ with 90 days' notice, top-ups any time, profit paid quarterly to a nominated UK account.
The standout notice account in the halal market: 4.37% AER beats most banks' one-year fixed rates while keeping money reachable on 90 days' notice. The 10,000 GBP door and paper-based servicing are the trade-offs. For balances above the threshold this should be the default liquidity tier, with Gatehouse's 95-day at 3.40% the fallback for smaller pots. Credit quality is a quiet strength as well: Fitch rates BLME A+ on parent support from Boubyan Bank of Kuwait, the strongest external rating in UK Islamic banking, sitting on top of FSCS cover at the 120,000 GBP limit.
Pros
- 4.37% AER crushes Gatehouse's 3.50% (120-day) and QIB's 3.75% (93-day)
- Shorter notice (90 days) than Gatehouse's top notice product
- Quarterly income suits profit-drawers
- SSB publishes an annual compliance certificate plus a shareholder Zakat Statement - rare disclosure
Cons
- 10,000 GBP opening hurdle
- No online account access - withdrawals via forms
- Expected rate is variable on notice
Open Account
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Product Details
Account Type
Notice savings (90 days)
Monthly Fee
0 GBP
Min Deposit
10,000 GBP
Structure
Expected profit paid quarterly
Bank of London and The Middle East (BLME) in England
Bank of London and The Middle East (BLME)'s Notice savings (90 days) serves customers in England. Islamic savings in the UK pay an expected profit rate from Shariah-compliant investments rather than interest. There is no monthly maintenance fee on this account. Check the provider's FSCS status: deposits at PRA-authorised banks are FSCS protected, while e-money balances are safeguarded but not FSCS deposit protected. Bank of London and The Middle East (BLME) operates across the UK, so England residents have full access to this product.
Shariah Compliance & Oversight
Sheikh Dr. Abdulaziz Al-Qassar (Chairman), Sheikh Dr. Esam Khalaf Al-Enezi and Sheikh Dr. Mohammad Al-Barrak, published at blme.com/about-us/shariaa-supervisory-board; the SSB issues an annual Sharia'a compliance certificate and shareholder Zakat Statement (crawled 2026-08-06).
2026-08-06
Why It's Halal
Funds are invested in Sharia'a compliant investments for an expected profit rate under the supervision of BLME's three-scholar SSB, with the bank committing to advise savers of any adverse rate change in time to exit. The wholly Islamic balance sheet means notice money never funds interest-based lending. The board doing the supervising is named: Sheikh Dr. Abdulaziz Al-Qassar (Chairman), Sheikh Dr. Esam Khalaf Al-Enezi and Sheikh Dr. Mohammad Al-Barrak, who publish an annual Sharia'a compliance certificate with the accounts and - unusually for any bank - a shareholder Zakat Statement. BLME has run a wholly Sharia'a compliant balance sheet since its founding in 2006 and is owned by Boubyan Bank of Kuwait, itself an Islamic bank, so there is no conventional parent upstream. The expected profit mechanics include a genuine protection: if the expected rate falls, the bank advises savers before proceeding and offers an exit, so the variable rate never changes silently.
Regional Availability
Bank of London and The Middle East (BLME) serves all of the UK
✓ Available nationwide including England
Open Account: Bank of London and The Middle East (BLME)
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NationwideFrequently Asked Questions
What is Bank of London and The Middle East (BLME) 90 Day Notice Account (Issue 10)?
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Important: HalalWallet provides educational information and comparisons to help you explore halal financial options. We do not provide financial, legal, or religious advice. Product structures and Shariah compliance oversight vary by provider. Always verify halal compliance directly with providers and consult with qualified Islamic finance advisors or scholars for guidance on specific products and your individual circumstances.