Doha, Qatar - May 1st, 2011 : Qatar Islamic Bank (QIB), the region's most innovative Islamic banking solutions provider, has announced the debut of a new investment plan: 'Themar'. Themar will allow clients to invest regularly or with several lump sum into the Sukuk market and Islamic financial institutions stocks around the globe.
QIB-UK, the bank's subsidiary based in the United Kingdom and QIB Group centre of excellence for Asset Management, will use its extensive experience in fund management to oversee the Themar investment portfolio.
Themar offers two modes of subscription for its customers, a monthly investment, or a one-off investment. The monthly investment choice gives customers an additional choice: a maturity term of two, five or eight years with a minimum monthly subscription of QR 2.000. The one-off plan requires a single lump sum from the customer with a minimum investment of QR 40.000. Monthly investors are committed for their respective maturity term whereas lump sum investors, if need be, can liquidate their investment on a weekly basis.
The investment plan will return five dividends or 'coupons' per year - a dividend each quarter and an annual profit bonus, usually paid in June. Themar has targeted a healthy return of 7% per annum in the long term through a strategy aimed at building a balanced investment offering diversification and cost efficiency. Half of the Themar portfolio will be invested in Sukuk (Islamic Bonds) and the rest in Islamic Financial Institution Equities.
"Themar is an exciting new product from QIB and exemplifies the bank's innovative investment offerings," said the bank's acting CEO, Ahmad Meshari. "Islamic investors are looking for a variety in investment options that meet their needs. Bringing new Sharia'-compliant finance products and increasing our market share is absolutely core to QIB's business and its continuous quest to give our customers the products and services they demand. This is why we are confident that Themar is going to prove popular with our customers, new and existing," he said.
Anouar Adham, Head of Asset Management, from QIB-UK in London said, "Themar is a new and innovative product that provides the investment flexibility our customers demand.
"Themar is unique in that it allows customers access to securities that might normally be out of their financial reach. For example, Sukuk are difficult to obtain. However, by pooling investors' resources, we can bring Sukuk bonds to everyone who takes up Themar.
Additionally, Themar's 50% Equity element gives our customers access to a diverse range of Islamic Financial Institution stocks in the world evolving in the Islamic Financial sector that is experiencing a growth estimated between 15% and 20%," he concluded.
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© Press Release 2011
