High street favourites eclipsed by UK challenger banks on rates

1 and 2 Year fixed-term savings rates from challengers over 1%higher than high street on average Challengers beat high street instant access accounts by 0.85% on average Research by Gatehouse Bank highlights the gulf between challengers and established players London, 12 March 2018 – Challenger banks are eclipsing the High Street’s big names with savings rates more than 1% higher on average, new research by UK challenger bank, Gatehouse Bank, revealed today. The average 1 Year fixed-term deposit account offered by UK challenger banks pays an eye-opening 1.18% more than the equivalent on the high street - 1.82% compared to 0.63%*. Likewise, the average 2 Year fixed-term deposit account across

Shariah-compliant banking and financial services are going mainstream, just in time for Brexit Brita

Ask someone on the street about Shariah-compliant banking or finance and chances are you’ll receive a blank look. Even Muslims often don’t know where to get started with it and that’s why many end up with standard bank accounts, even though they don’t really want one. But you are going to hear more and more about Shariah-compliant financial services in the coming years as its importance, intensified against a backdrop of Brexit-related uncertainty, comes to the fore. Challenger banks are nothing new, but within the challenger bank community there is without doubt a new kid on the block. Now there has always been a degree of mystique about Shariah-compliant banking and finance, but today ther

UK Islamic bonds on course to hit £57.8bn in assets by 2028

Gatehouse Bank has calculated that the value of sukuk assets listed on the LSE would double to £57.8bn in the next decade if issues continue at their current rate of growth. Sukuk (Islamic bonds) offer investments that are structured to adhere to Islamic law, providing shares of tangible assets and returns that are not derived from interest. Charles Haresnape, CEO, Gatehouse Bank, commented: “The woes in the oil market have weighed on the growth of sukuk over the past few years but as the price of oil improves, long-awaited expansion in sukuk is bound to follow. “Sukuk only began life in the UK in 2007 but their numbers have been swelling at an annual rate of around 5% in the past few years

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