Gatehouse Bank takes a better view of Islamic finance

2nd October 2009

Gatehouse Bank, the City based wholesale Islamic investment bank, held a reception last night for the opening of its new main office at 125 Old Broad Street.

It sees the completion of the merger of Gatehouse Bank plc and its sister company GSH UK by its parent, The Securities House K.S.C.C, to create an even stronger business with which to approach the growing opportunities in Shariah compliant financial markets, both in London and worldwide.

The new Gatehouse Bank headquarters were officially opened by His Excellency The Ambassador of Kuwait, who cut the ribbon during the opening ceremony. Honoured guests also included Andrew Levi, Director of Investment at UKTI, representing the lord Mayor, Alderman and Sheriff David Wootton from Allen & Overy, for The City of London and Fahed Faisal Boodai, Chairman, Gatehouse Bank.

Khaled Al-Duwaisan, Ambassador of Kuwait led the speeches, who congratulated Gatehouse Bank and its new beginning at 125 Old Broad Street:

"I would like to personally congratulate Gatehouse Bank and what it has achieved. The UK has a special relationship with Kuwait and its presence is the right choice here in the financial capital of the world. I would like to thank you all for your support for this organisation and long may it continue."

David Wootton added:

"London has a world class blend of financing skills and with the encouragement of all those present here tonight, we can provide the right framework to enable it to flourish. Speaking on behalf of the Lord Mayor, I wish you all the very best for the future."

Andrew Levi, Director of Investment at UK Trade & Investment, highlighted the role that Gatehouse Bank and Richard Thomas as its CEO have been playing, fostering UK relations in the international Islamic finance community:

"In the UK we are proud of the leading position we have established in international Islamic finance, which is spreading internationally as an important flow of investment and finance. With the support of its investors, UK Trade & Investment and the wider finance community, I am confident that Gatehouse Bank, with Richard as its Chief Executive and working with us as a member of the financial services board, will continue to go from strength to strength in the world of Islamic finance."

In summing up before the Reception, Gatehouse Bank's Chairman, Fahed Faisal Boodai, Chairman, said:

"On behalf of the Board of directors and Staff of Gatehouse Bank, I would like to welcome you and thank you for joining us in the opening of our new headquarters. The Islamic Banking industry, Gatehouse Bank being a part of that, is proud to operate in one of the most important financial centres of the world “the City of London”. I would like to take this opportunity to thank the City of London, FSA, Bank of England and the UKTI for their continued cooperation and support."

For all media enquiries, please contact:

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