Gatehouse Bank awarded World's Best New Islamic Bank
- Kuwait: Wednesday, March 11 - 2009 at 15:57
- PRESS RELEASE
Fahed Faisal Boodai, Vice-Chairman of the Securities House-fully owned Gatehouse Bank, stated that the bank was awarded the World's Best New Islamic Bank, in a poll conducted by Islamic Finance News magazine.
Boodai expressed his delight of achieving the award, which clearly reflect the early goals and strategies, of the founders. He also stressed the bank's keen desire and objectives to attract a professional and distinctive banking team from all over the world.
He commended the constant support of the Securities House towards creating a banking entity in the heart of the city of London a Global financial capital, forming a bridge between the Gulf and Mena region, and the western markets, thus connecting between institutions that seek new capital, or intend to operate in accordance the Shari'ah.
David Testa, the bank's CEO, expressed delight for being awarded with this award, despite the challenges that faced the banking sector over the past 12 months. "Due to the efforts of our shareholders and all the members of the board, their vast expertise and good reputation, as well as the efforts of the all the banks human resources, this award has been made possible."
Mr. Testa also added, "The bank provides consulting services in the area of structured finance for investment companies, through the a new platform called the Milestone Sukuk program which was recently added to the bank's services. The program issues Sukuk against corporate finance assets of all types. Other products currently being provided by the bank include Shariah-compliant wholesale investment banking services in the areas of Capital Markets and Syndicated Financing, Institutional Wealth Management, Real Estate, Treasury Products and Shariah Advisory Services."
Gatehouse Bank was established in May 2007, and in April 2008 the bank received its license from the Financial Services Authority (FSA) to operate as an fully authorized deposit taking bank.
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