I have to choose between 2 options:
1st. London School of Business and Finance MBA (accredited by University of Wales)
2nd. University of East Anglia MBA (no accreditation, but they offer joint Dimploma in Management Consultancy by CMI)

If you have to choose between these two, which one would you pick and why?

P.S. I agree in advance with points like 'save some additional money and apply for the better one like famous X or Y', but unfortunately I can not do that. It's a strict 1st or 2nd situation.

UEA for sure.

LSBF is not accredited itself. It issues UOW degrees, which is accredited, through a validation agreement. However, UOW is being investigated by the UK government's QAA for allowing very low quality institutions to give their degree. So in practice this piece of paper may not be worth much.

In contrast UEA is accredited itself and has the same right as UOW to issue degrees recognized by the UK government.

Very good point. Thank you so much!

But what about quality of their MBA programmes theirselfs?

Although both are not accredited by AMBA maybe one just much more fun or helpful than the other?

Any other ideas?

how many years of Experience you have.. ?
well i would recommend UEA to be far better than UOW in terms of quality and ranking.

I don't think that the UEA MBA is more valuable than the UofW MBA and then if both unis have validation agreements with other institutions it comes down to comparing other factors such as the faculty, location, fees, student body, transportation, etc.
LSBF has actually been in the press lately for their MBA Facebook App and you can get a good idea of what your studies are gonna look like. So there are cons and pros for both of these options?

Both Wales and UEA have royal charters allowing them to issue degrees. The validation agreements work legally, but not by reputation. For example, a London Business School MBA programme leads to the same University of London MBA as a Queen Mary MBA programme, but they are totally different. Employers will not treat them the same way. The differences are experience and reputation, not just fees.

LSBF has no reputation, other than for its facebook app. It is very young, and small, and it run out of a small office block with few facilities and few alumni. UEA is in the top quarter of British universities, and it's a real university with a solid reputation. UEA is 50 years old... can you be certain LBSF still be around in 50 years? Five years?