LONDON, 10 August, 2015: Gatehouse Bank plc (“Gatehouse”), the London-based investment bank specialising in Shariah-compliant products and services, is pleased to announce its participation in a delegation organised by the UK government, with UK Prime Minister David Cameron’s recent visit to Southeast Asia. Organised by UK Trade & Investment, the trade mission sought to promote foreign investment into strategically important sectors of the UK economy. It also sought to promote the United Kingdom as a centre for Islamic finance. During the trip, the UK government announced in excess of £750 million worth of new investment into the UK. Gatehouse was one of a select number of firms chosen to accompany the delegation on this mission.
The mission promoted numerous initiatives, including Gatehouse’s investment activities in the private rented sector (PRS) market. Last year, Gatehouse announced the development of in excess of 900 PRS homes to address the UK’s housing shortage. More recently, Gatehouse and its partners have announced their intention to expand significantly their program to develop PRS homes. These expansion plans were discussed during the mission.
Henry Thompson, CEO of Gatehouse said “It was an honour to participate in this mission, endorsed by the Prime Minister and other senior members of the UK government. I am pleased that Gatehouse’s investment activities in PRS have drawn the attention of the highest levels of government. We had a number of positive discussions, and I look forward to more announcements on our expanded PRS activities in due course.”
Sir Michael Bear, Chairman of the UK Trade & Investment’s Regeneration Investment Organisation said “Gatehouse’s activities in PRS are an excellent example of how private investment can address the social needs of UK society, encouraging jobs and growth. The UK needs to build more homes to meet the demands of its growing population, and it is a pleasure to see that Gatehouse is expanding upon its successful investment in the PRS sector.”
One of the key initiatives during the Prime Minister’s visit to Malaysia was the promotion of Islamic Finance in the UK. Gatehouse was pleased to have its PRS activities highlighted as part of this initiative, and the Prime Minister commented on the UK’s place in global Islamic finance saying, “Britain is the capital of Islamic Finance in the West. We were the first country outside the Islamic world to issue a government Sukuk. We have a tax system and other regulations that work with Islamic Finance products. Look around London and you will see how Islamic Finance has transformed the skyline, from the Shard to Chelsea Barracks. But our ambitions in this industry go far beyond our capital city. When it comes to Islamic Finance, Britain thinks big. I don’t want us to just be the Western hub; I want us to be a global leader. That’s the goal.”