This article first appeared in FT Advisor
A better understanding of shariah-compliant finance is needed in the industry to ensure brokers have the widest range of options available to get the best deals for their clients, according to Gatehouse Bank.
Paul Stockwell, chief commercial officer at Gatehouse, said the Shariah-compliant lender had built a “growing position” in the home finance market from a standing start in 2018, but noted it was clear the industry needed more education on how Shariah-compliant finance worked and the possible deals available for all clients, not just those following the Islamic faith.
He said: “It is clear from recent research carried out by the bank that we need to work harder to ensure that people understand how Shariah-compliant finance works.
“We need to provide potential customers with easy-to-understand information about what Shariah-compliant finance is, and the benefits it can offer them.”