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Islamic Finance Briefing - Categorized | Banking, Market Moves more

Credit crunch hastens Gatehouse Bank, GSH merger

Posted on 10 August 2009

From Arabnews.com: Another sign that these are difficult times, even for the Islamic banking sector, is the announced merger by The Securities House K.S.C.C.,a leading Shariah-compliant investment company listed on the Kuwait Stock Exchange, of its two London-based subsidiaries Gatehouse Bank PLC and Global Securities House (GSH) UK into one entity under the Gatehouse Bank brand.

The merger was in many respects forced by the prevailing global financial market conditions and once again by the huge costs of establishing and maintaining financial institutions in the City in London……….Full Article: Source

 
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