Gatehouse Bank targets significant growth in Shariah-compliant ‘home finance’

Gatehouse Bank, the Shariah-compliant UK bank, has opened a major customer service centre in Milton Keynes, it was announced today.

The new office is integral to the bank’s ambitious growth plans, which include a new strategy focusing on the introduction of ‘home finance’, in addition to its current buy-to-let products and successful development/build-to-rent division.

The Department for International Trade provided Gatehouse Bank with key market data to help source growth opportunities across the UK, while also lending its support for the launch of the new Milton Keynes office.

The spacious, modern office is located in a purpose-built business park overlooking a lake, and will accommodate a growing team as the bank steps up its recruitment drive in the months ahead.

Gatehouse Bank CEO, Charles Haresnape, Chairman Mr Fahed Boodai and the Mayor of Milton Keynes, Councillor David Hopkins, all spoke at the opening ceremony before a ceremonial ribbon cutting.

Also present were Her Majesty’s Ambassador to the State of Kuwait, Mr. Michael Davenport MBE, along with representatives from the UK Government, Kuwaiti embassy and business community.

Charles Haresnape, CEO, Gatehouse Bank, commented:

“We have big plans for Gatehouse Bank and our new Milton Keynes office will be key in helping us to achieve them. We are seeking to grow all areas of the business but Shariah-compliant home finance will be a particular focus. We believe this is a hugely untapped market and one that, being fundamentally ethical, will resonate with Muslims and non-Muslims alike.”

Fahed Boodai, Chairman of Gatehouse Bank and Group, added:

“As Chairman, I applaud the choice of location and am delighted to see the continuing inward investment from Kuwait into the UK. I see more opportunity in the future to work together, whether it be Build-To-Rent, Commercial Financing or the development of the Shariah-compliant Home Finance market.”

Graham Stuart, Minister for Investment, Department for International Trade, said:

“As an international economic department, DIT is working closely with the rest of government to ensure the UK builds on its position as a leading market for Sharia-compliant finance.”