Gatehouse Bank joins Europlace

 

15th October 2009

Gatehouse Bank has joined Paris Europlace, the organisation that promotes Paris as a financial centre, becoming the first dedicated Islamic Financial institution to do so. Gatehouse has been invited to contribute to Paris Europlace's Islamic Finance Commission set up in December 2007 which acts as a focal point for the Islamic financial community in France and whose opinions are listened to by the French Government.

As a fully FSA authorised wholesale investment bank in the UK, Gatehouse Bank will be able to work with clients and other banks based in France across a wide range of financial products, including Shariah Advisory services, real estate, wealth management, asset management, treasury, capital markets and off balance sheet investments.

Richard Thomas, CEO, Gatehouse Bank, commented:

"Islamic Finance has a bright future in France with its large Muslim population and trade links to many Islamic economies. The support of the French Government and championing by Paris Europlace will help the development of a French Islamic financial infrastructure. As a fully authorised investment bank with an international outlook, solid track record and in-house team of leading Islamic scholars, we hope to play an active role in the development of Shariah compliant finance and investment in France. It is a privilege to be part of Paris Europlace."

Gatehouse Bank has a team of leading Islamic scholars, who play a vital role in Islamic finance. This team provides advisory services to other banks and market participants and plays a key role at Gatehouse Bank in the development of new products.

Antoine R. Chemali, Associate Vice President, Gatehouse Bank, coordinator of the French strategy of the bank added:

"Innovation and development of Islamic financial products and services is the core of Gatehouse's operations. French banks, funds and private offices are already showing interest in Islamic capital markets and syndicated financings, institutional wealth management, treasury products, real estate and Shariah advisory services and Gatehouse has already been contacted by some of them attracted by our capacity for producing specific products like the first Islamic water fund and our real estate offerings. It is fascinating to see the demand for Islamic investment vehicles among both Muslim and non-Muslim investors, as their Shariah compliant principles create a solid foundation for managing risk and acting ethically"

Through its membership of Paris Europlace, Gatehouse Bank will:

  • Participate in the International Financial forums in Paris and abroad;
  • Meet and share information with the other members of Paris EUROPLACE and the other market players active in France (including Lazard; Societe Generale; UBAF; QIB; BNP-Paribas; CALYON; Herbert-Smith; French Central Bank; Natixis; Total; Moodys; Allen & Overy; Centuria; DTZ Asset Management; The Banking Commission and AMF (French regulator)).
  • Participate in working groups - in particular the "Islamic Finance" committee to discuss new business opportunities: authorization/distribution of Shariah compliant funds, listing of Sukuks, carbon credit trading etc.
  • Benefit from Paris EUROPLACE's European and International network and from NYSE-Euronext platform in Paris through their listing capacities (ETFs and Sukuk);
  • Contribute to the development of relevant laws and practices.


For all media enquiries, please contact:

Angelena Lee
Gatehouse Bank plc
Email : info@gatehousebank.com