01 April, 2011
Gatehouse Bank plc, a fully Shari'ah-compliant investment bank in London has entered into a memorandum of understanding (MOU) with PT Bank Syariah Mandiri and PT Bank Negara Indonesia to strengthen ties with both parties and agree upon Islamic banking initiatives that will benefit each other through closer working cooperation. (full story)
Fahed Boodai, Chairman of Gatehouse Bank, said at the signing in Indonesia, ‘We look forward to a productive and prosperous working future with these banks and we will stay committed in our efforts to engage and advance transaction activity that will deliver real reward to all working parties.'
PT Bank Syariah Mandiri is one of 7 Islamic banks in Indonesia. It is a wholly owned subsidiary of Bank Mandiri, which is the largest commercial bank in Indonesia. PT Bank Negara Indonesia is the fourth largest commercial bank in Indonesia. London-based Gatehouse Bank continues to strengthen its strategic partnerships with companies in the SE Asian region that want to tap into the services of a bank with its depth of knowledge in international financial markets combined with its understanding of Shari'ah banking.
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