Islamic Finance News Portal – Bringing you the latest updates in global Shariah finance

Watch out for news alert!

Posts Tagged ‘Gatehouse Bank

Gatehouse Bank appoints head of Shari’ah advisory and compliance

leave a comment »

Points of Essence:

  • UK based Gatehouse Bank recently announced the appointment of Mufti Muhammad Nurullah Shikder as its head of the Bank’s Shariah advisory and Shariah compliance. Shikder will oversee the day to day transactions of the Bank to ensure compliance with the Shariah as well as provide training in the related areas. He was previously with Dubai Islamic Bank and currently sits on on the Shariah Board of other financial institutions.

By: Staff Writer

Gatehouse, Dubai Islamic Bank, Shari'ah board, advisor, appointments,

Mufti Muhammad Nurullah Shikder previously spent three and half years with Dubai Islamic Bank in the Shari'ah Coordination Department and worked closely with Dr. Hussain Hamid Hassan, Chairman of the DIB Shari'ah Board.

Gatehouse Bank, a Shari’ah-compliant wholesale investment bank based in the UK, has appointed Mufti Muhammad Nurullah Shikder as head of Shari’ah advisory and Shari’ah compliance.

Gatehouse Bank said its Shari’ah Advisory and Shari’ah Compliance Department will be providing Shari’ah services in the following core areas:

Shari’ah Advisory:

• Assisting with the structuring of Shari’ah compliant products and offerings and issuing the relevant Fatwa;

• Reviewing transaction documentation in accordance with the principles of Shari’ah;

• Providing general Shari’ah consultancy/advice on an on-going basis.

Shari’ah Audit & Compliance:

• Providing Shari’ah audit services;

• Reviewing executed transaction documents to ensure continuous Shari’ah compliance;

• Preparation of Shari’ah auditor’s reports.

Read the rest of this entry »

Written by Suapi Shaffaii

October 29, 2008 at 8:30 pm

Gatehouse sees more UK Islamic investment banks

with one comment

Points of Essence:

  • Currently, the UK has one full-fledged Islamic bank and four Islamic investment banks.
  • Gatehouse Bank sees the rise of Shariah compliant banks in the UK is driven by the government efforts to turn its capital into a global hub for the industry

* Britain intends to issue its own sovereign sukuk debt in a rolling programme worth around two billion pounds

KUALA LUMPUR: The number of Sharia-compliant investment banks in the UK is expected to more than double to 10 within five years, Islamic lender Gatehouse said on Tuesday.

The rise of banking that fulfil the requirements of Islamic law in the UK is being driven by government efforts to turn its capital into a global hub for the industry, said Samer Merhi, Gatehouse Bank executive director for institutional wealth management structuring and origination.

Click here for more!

Written by Suapi Shaffaii

August 13, 2008 at 2:45 am

Shariah compliant Gatehouse Bank appoints Capital Markets director

leave a comment »

Points of Essence:

  • Gatehouse Bank has appointed Michael Clarke as their director of Capital Markets. He was formerly with Abu Dhabi Islamic Bank.
  • Michael was instrumental in winning numerous mandates for syndicate financings and was also behind a series of strategic product initiatives. An Islamic Finance News Award earlier this year for Best Kazakhstan Deal was a testimony of his expertise.

By Catherine Murray

The recently FSA approved Shariah-compliant wholesale investment bank Gatehouse have just announced the appointment of Michael Clarke as their director of Capital Markets. David Testa, CEO, Gatehouse Bank, comments that “Michael fits our model of hiring those rare people who combine first rate investment banking skills with a proven track record in Shariah-compliant finance. His long experience in international roles, and specifically in syndicated Islamic financings, will prove a great asset and further strengthens a highly credible team.”

Clark is equally keen to have joined the team, saying “The Gatehouse Bank Capital Markets team is at the forefront of the UK Islamic finance industry and is ideally positioned to play a key role in the growth of the industry. I am truly excited about working with the team.”

Michael joins Gatehouse from Abu Dhabi Islamic Bank where he spent the last seven and a half years in a number of roles, most recently as Assistant Vice President of Financial Institutions.

During his time there, Michael was instrumental in winning numerous mandates for syndicate financings and was also behind a series of strategic product initiatives. Furthermore, Michael was awarded an Islamic Finance News Award earlier this year for Best Kazakhstan Deal.

With a banking career spanning more than twenty years, Michael was previously at Jordan International Bank and NatWest Bank in London, Hong Kong and New York.

Michael has a BSc in Banking & International Finance from Cass Business School and was formerly on the United Arab Emirates Steering Committee for PRMIA.

Written by Suapi Shaffaii

August 7, 2008 at 3:59 am

Posted in Appointment

Tagged with , ,