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Dubai Islamic Bank launches Al Islami Capital Protected Fund |
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5/24/2006 8:51:20 AM |
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 The fund has a 5-year maturity, and capital protection at maturity through Sharia compliant structure. For greater flexibility, investors can redeem their capital up to twice a month. Subscription to the fund will run from May 2 to May 30, 2006.
Saeed Al Qattami, Senior Vice President, Wealth Management & Private Banking said 'that the minimum investment amount is kept at US$10,000 for individuals and US$25,000 for institutions. The investment could also be higher in multiples of US$1,000 for both segments.'
He added, 'The Fund provides an easy and convenient opportunity for all types of investor to take part in the world's largest stock markets. It presents an opportunity for retail and high net worth investors to take part in the growth of global markets, but to do so in a way that is Shariah-compliant and therefore ethically sustainable.'
Moinuddin Malim, Managing Director, Asset Management & Capital Markets, Investment Banking Group, DIB, said: 'This fund provides clients with capital protection at maturity and a diverse investment portfolio of stable international markets. By taking this international perspective, we are able to remove much of the volatility and risk that exists in local and regional markets.'
'DIB is rapidly developing a diversified menu of investment products that will cater to all segments of our large and growing customer base. We will continue offering new innovative products in future,' he added.
The Al Islami Capital Protected Note is the latest in a series of investment funds launched by DIB, including GCC Equity Fund, Al Islami Saving Scheme, Pan European Real Estate Fund, US Real Estate Fund, and two French Real Estate Funds.
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