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The event to support "Generation F" on Tuesday 16 April at Kuwait Oil Company (KOC) saw a collection of 70 Kuwaiti female oil and gas professionals congregate to develop their financial skills necessary for smart wealth preservation. London-based Gatehouse Bank participated in the workshop. The company has a history of supporting Arab women through education. Encouraging female financial literacy and supporting the development of the financial skills necessary for long term wealth preservation is a core objective for the Bank. According to Vice President Ms Azeemeh Zaheer, Gatehouse Bank works with women on education programmes to demystify the financial markets, enabling women to make their own decisions about how to build and diversify their investment portfolios in the best possible way.

London-based Gatehouse Bank plc (Gatehouse) has announced that its associate has successfully completed the sale of a real estate investment located in San Francisco's South Financial District in California. The total amount of the sale reached $71m (£46.4m), which yielded a profit on equity of 100% post costs and taxes. This real estate investment consists of two office buildings situated on a 15,306 sq ft parcel of land and is adjacent to the proposed Transbay Redevelopment Project. Gatehouse Bank and its associate were assisted by Arch Street Capital Advisors, L.L.C. and SKS Investments in this transaction.

The Board of Gatehouse Bank has announced its expansion in South East Asia to cement its growing operations and to ensure its proximity with its key clients, regulators and stakeholders in the region. This follows on from the £165 million acquisition of the law firm SJ Berwin’s offices in London, in collaboration with a Malaysian Sovereign Wealth fund in September 2012. Richard Thomas OBE, will relinquish his current responsibilities as Chief Executive Officer and will take over a new role with the Bank to spearhead this SE Asia business expansion and operations. Mr Fahed Boodai, Chairman has been appointed as interim Chief Executive Officer.

Gatehouse Bank announced its expansion in South East Asia following the acquisition of the law firm SJ Berwin's offices in London, in collaboration with a flourishing Malaysian Sovereign Wealth fund in September 2012. Richard Thomas OBE, will relinquish his current responsibilities as Chief Executive Officer and will take over a new role with the Bank to spearhead this SE Asia business expansion and operations. Mr Fahed Boodai, Chairman has been appointed as interim Chief Executive Officer.

London-based Gatehouse Bank plc (Gatehouse) has completed the acquisition of a 163,000 sq ft, state of the art office building in Salt Lake City, Utah. The deal is expected to return a stable and healthy yield over the investment period. The property is 100% leased to theGeneral Services Administration (GSA) for a fixed term of 20 years. The Class-A office building has been built specifically to meet the critical security requirements of the tenant. Gatehouse Bank was assisted by Arch Street Capital Advisors and sister company GSH in this transaction.

The former Chief Executive of Gatehouse Bank David Testa has successfully appealed in the first-tier tax tribunal against HM Revenue & Customs' "flawed" refusal to suspend a penalty imposed for a careless inaccuracy. HMRC rejected David Testa's offer of using a qualified tax practitioner to ensure he ironed out future self-assessment errors after he mistakenly failed to declare his severance payment after he left his post with the bank in 2009. The tribunal upheld Testa's view, noting HMRC's policy "sits uneasily" regarding inaccuracies arising from one-off events. Judge Kevin Poole described HMRC's logic as "flawed" and added there is "a danger of taking too narrow a view of the legislation".

A new type of sukuk, introduced by Gatehouse Bank, could make inroads in the market by offering greater security to investors through a structure similar to conventional covered bonds. The Gatehouse sukuk incorporates a purchase undertaking by the bank that gives primary security to noteholders, while in case of default they have secondary security on the property. It is based on an ijara (lease) contract which is commonly used in Islamic finance. Moreover, by adding the second layer of security, the Gatehouse sukuk effectively became asset-backed and not only asset-based. The Gatehouse sukuk pays a 3 percent annual distribution and offers quarterly redemption options.

London-based Gatehouse Bank is participating in the youth mentoring initiative 'Mosaic' that seeks to inspire young people from deprived communities to realise their talents and potential. The seminar saw business leaders, including the CEO of Gatehouse Bank, Richard Thomas, sharing important insights and experiences on activities undertaken in 2012. According to a press release from Gatehouse Bank, Mosaic addresses the role that businesses can play in responding to social and environmental problems. Therefore, it directly reflects the business ethos of a socially responsible Shari’ah banking model.

Women are starting to play an increasingly influential role in the family businesses of the Gulf region that account for approximately 90 percent of commercial activity there. As women become more economically independent, the decision-making process has shifted to incorporate women's interests and motivations. However, it is essential that women are fully equipped with the right knowledge, tools and skills. Therefore, Gatehouse Bank has initiated a corporate social responsibility project to promote financial literacy among women in the GCC. The bank shares its skills and knowledge with women in Saudi Arabia, Kuwait and Qatar.

London-based Gatehouse Bank has completed the acquisition of a 163,000 sq ft, state of the art office building in Salt Lake City, Utah, which is 100% leased to the General Services Administration (GSA) for a fixed term of 20 years.
The deal is expected to return a stable and healthy yield over the investment period. Gatehouse Bank was assisted by Arch Street Capital Advisors and sister company GSH in this transaction.

Gatehouse Bank has issued its first real estate-backed Sukuk that comprises shares in a company which owns a property leased to Fujitsu Services Limited. Rental payments will be applied to fund payments to the Sukuk holders and investors have the option to redeem their investment on a quarterly basis. Therefore, this asset constitutes a short term cash instrument with an annual yield of three per cent.

Gatehouse Bank is making efforts to attract Oman's Sharia-compliant institutions to invest their funds in the UK and vice-versa. They are showing keen interest in establishing a business relationship with all Islamic banks. Gatehouse already have treasury services, capital market products like sukuk and real estate financing. There will be an official meeting between Gatehouse Bank's officials and such of Bank Nizwa and Bank Muscat. The goal of the meeting will be to explore cooperation possibilities and opportunities.

To provide support to the Real Estate team in the analysis, preparation of marketing and internal approval documents, and ultimate execution of Shariah compliant, leveraged, equity investment, real estate transactions whilst also developing the Origination area through the building of a network of contacts.

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Experienced individual to work closely with the Head of Shariah in providing in-house Shariah advisory and Shariah audit services.

Gatehouse Bank's acquisition of a diverse industrial portfolio of 19 operationally critical properties all over the USA has been competed. The properties are leased to 16 tenants, whereby the remaining lease term is 14 years in average. The portfolio is stabilised at 100% occupancy. The acquisition worth $178 million was carried out in partnership with the Brennan Investment Group (BIG).

The State of Kuwait belongs to the three largest trading partner of the United Kingdom in the Gulf region with a trade exchange between of about 3.59 billion U.S. dollars. In order to strengthen bilateral relations, the Amir of Kuwait has made a visit to the UK at the invitation of Her Majesty Queen Elizabeth II.

James Bagshawe, 53, was the Chief Operating Officer of the Gatehouse Bank. He claims that he lost his £185,000-a-year job with the bank because he wasn’t a Muslim. Mr Bagshawe who has 25 years of experience in banking working for JP Morgan and Flemings, is claiming to be whistleblower in regard to an investment and so can be awarded unlimited damages if he wins the case.

Last night a spokesman for the bank said: ‘Mr Bagshawe was made redundant by the CEO a Christian. His appeal was heard by a non-executive director, another Christian. His redundancy was supported by the Board comprised equally of Christians and Muslims. Gatehouse Bank deny the allegations and say Mr Bagshawe’s position remains redundant a year after he left the company and there are no proposals to appoint a successor.

The tribunal continues and is expected to last 12 days.

Cooperating with Malaysia's Sovereign Wealth Fund (SWF), Gatehouse Bank has executed the GBP 165 million acquisition of the law firm SJ Berwin’s offices in London. The role of Gatehouse was Investment and Shari’ah Adviser. The deal is the first real estate investment of the Malaysian client and is essential for its wider global investment strategy. According to Chief Executive Officer of Gatehouse Bank Richard Thomas, this investment is a great example of international co-operation and demonstrates how funds can be mobilised around the world complying with the principles of Shariah.

Read more on: http://www.cpifinancial.net/news/post/16102/gatehouse-advises-malaysias-...

Together with a Malaysian Sovereign Wealth fund, London-based Gatehouse Bank has finished the £165 million acquisition of the offices of the law firm SJ Berwin. Gatehouse played the role of an investment and Sharia adviser for the deal. The investment of the Malaysian client is of major importance for its wider global investment strategy.

Read more on: http://www.gulf-daily-news.com/NewsDetails.aspx?storyid=339370

Gatehouse Bank based in London, has surpassed the USD half billion mark in real estate investment acquisitions, on behalf of its GCC investors. This was succeeded after the acquisition of a multi-million dollar US student property portfolio, "The Republic at Denton" and "The Republic at Lubbock" in Texas, USA providing investors a net cash yield of 7.0% per annum and a projected IRR of 9.0% over a hold period of five years.
The newly built, multi-million dollar developed properties were obtained in partnership with US-based student housing specialty operator, The Scion Group LLC.