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Tuesday, 22 January 2013
UK: Gatehouse Bank expands its global Islamic Finance capability with launch of its first Sterling sukuk
As Mr Abdulaziz AlDuweesh, Executive Vice President and Head of Wealth Management at Gatehouse Bank, explains: "Investors want to own an income-producing that offers a consistent annual return. As such, this is a highly liquid investment opportunity, particularly as the use of a sukuk instrument delivers an enhanced yield when compared with standard bank deposits. The quarterly redemption option creates a short term cash instrument of 3 months tenor with an annual yield of 3%. The global sukuk market is expected to reach USD 292 billion issuances by 2016, and our entry into the market comes at an exciting time for the bank as we seek to expand our products and services for the benefit of our clients."
Since its inception in 2008, Gatehouse Bank has established a global portfolio worth in excess of £1.25 billion, spread across Real Estate assets, capital investment, and term deposits. Gatehouse specialises in originating, structuring and funding investments in a Shariah compliant manner, and aims to develop its capital markets offering by originating real estate backed Sukuk issuances and other structured finance products.
(Zawya / 21 Jan 2013)
Alfalah Consulting - Kuala Lumpur: www.alfalahconsulting.com
Islamic Investment Malaysia: www.islamic-invest-malaysia.com
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