Our Approach to Responsible Banking
We take our responsibility to society and the environment seriously. Our business and operations are conducted in a manner that calls for fair dealing and our products are transparent, fair and socially responsible. This approach dovetails with the principles of Shariah compliant banking, which underpin our operations and form the basis of our product offering.
Gatehouse Bank is one of the founding signatories to the United Nations (UN) Principles for Responsible Banking, which were launched in September 2019. The UN Principles provide the framework for a sustainable banking system and help the financial sector demonstrate how it makes a positive contribution to society.
As a founding signatory, we have committed to further aligning our business strategy to be consistent with, and contribute to, the UN Sustainable Development Goals (UN SDGs), the Paris Climate Agreement and other relevant national and regional frameworks.
“We are proud to be the only UK Shariah-compliant Bank to become a founding signatory of the UNEP FI Principles for Responsible Banking. Gatehouse Bank is a growing force in UK banking and is committed to having a positive impact on the communities we serve. The Principles for Responsible Banking fit with the Bank’s ethical approach to finance and more importantly, will enable us to continuously review and develop our approach as a responsible provider.” - Charles Haresnape, CEO Gatehouse Bank.
We take a strategic and governed approach to managing risks due to climate change, in line with prevailing regulatory guidance and requirements and our internal Risk Management Framework. We continue to develop processes and practices to assess and manage the risks to the bank and our customers arising from climate change.
We are committed to giving back to the community. We do this through corporate giving, volunteering and staff fundraising. Our 2020 Charity of the Year is Macmillan Cancer Support. Our committed colleagues run marathons, host bake sales and participate in quizzes (and much more!) to raise vital funds to support Macmillan’s work providing specialist health care and advice for those suffering from cancer.
Balanced Banking
Grounded in Shariah principles, our products are transparent, fair and socially responsible. We don’t make highly speculative investments or transactions. Our way of operating is stable, transparent, and shares risk and reward in an equitable way.
We do not finance the arms industry, alcohol, tobacco, adult entertainment or gambling. Our principles encourage trading and enterprise that generates wealth for the benefit of the whole community.
Our products and services are available to people of all religions and none. Many non-Muslims choose us for our socially responsible approach, transparency and the competitive products we offer.
Sustainability
Gatehouse Bank is one of the founding signatories to the United Nations (UN) Principles for Responsible Banking, which were launched in September 2019. We have begun a robust assessment of the environmental, social and economic impacts of our business activities. This assessment will help us set objectives to appropriately address the sustainability risks and opportunities facing our business and our stakeholders.
The UN Principles are supported by a strong implementation and accountability framework. We have committed to monitoring our performance and publishing regular and transparent reports to be accountable for the social, environmental and economic impact of our activities. These reports and more details about our growing sustainability program will be available on our website soon.
In the Community
As a UK based bank, we wanted to tackle an issue that is close to the hearts of many UK families. According to Cancer Research UK, every two minutes someone in the UK is diagnosed with cancer. This is why Gatehouse staff chose to support Macmillan Cancer Support as our Charity of the Year for 2020. Macmillan Cancer Support provides specialist health care and advice for those suffering from cancer.