Algbra and its Fintech-as-a-Service division, Algbra Labs, are proud to share that Gatehouse Bank has been awarded Most Innovative Mortgage Product at The Banker's Islamic Banking Awards 2026, in recognition of the digital payment account built in partnership with Algbra.
The Banker's Islamic Banking Awards have, since 2013, recognised the most forward-thinking and impactful work in Islamic finance globally. Winners are evaluated on market impact, financial results, and the strength of their Shariah-aligned, customer-focused solutions.
The award-winning product was developed to address a persistent barrier faced by overseas residents seeking to purchase property in the UK. Many UK expats and international buyers were unable to progress with a Shariah-compliant Home Purchase Plan without holding a UK payment account. Algbra’s partnership with Gatehouse resolves this directly, allowing customers to manage their home finance payments through a dedicated digital account - without compromising on their values.
Charles Haresnape, CEO of Gatehouse Bank, commented: “Our partnership with Algbra was driven primarily due to our awareness that many of those residing overseas were struggling to achieve their property ownership goals within the attractive UK market due to not holding a UK payment account. We are very grateful to the team at The Banker for recognising our work to provide a solution to this issue. We look forward to expanding our partnership with Algbra, in line with Gatehouse Bank's digital transformation strategy, to help even more customers to access the property financing they need.”
Zeiad Idris, CEO of Algbra, commented: “This recognition is fantastic validation of the partnership we announced last year and marks an important milestone in Algbra’s mission to modernise cross-border Islamic finance through ethical, technology-led infrastructure. Together with Gatehouse Bank, we are helping overseas clients access Shariah-compliant UK property finance more seamlessly than ever before.”
