Dubai, May 30, 2012: Noor Islamic Bank, a leading Islamic bank in the United Arab Emirates, has launched two unique structured wealth management investment products, which offers clients an exposure to a diverse range of Asset Classes while minimising their risk through one structured deposit.

The new products, which allow clients to invest in Precious Metals, Currencies, Equities, Energy and Agricultural Commodities, with 100 per cent capital protection, join an impressive line-up of 33 shari'a compliant mutual funds distributed by Noor.

Hussain AlQemzi, Chief Executive Officer, Noor Investment Group and Chief Executive Officer, Noor Islamic Bank said: "We do not recognise that clients need to compromise on their investments because they want it to be shari'a compliant. These two products fill a gap in shari'a compliant investment space and provide clients the opportunity to benefit from the upside of investment cycles.

"At Noor we see huge opportunities for wealth management in the shari'a space. That is why we are taking the lead in developing true wealth management solutions that compete with best in class investment products."

The Hybrid Pick and Drop Structure is designed for conservative to moderate risk clients, who want exposure to diverse range of opportunities without risk to capital. Features of the product include:

  • 100% capital protected three-year investment

  • Investment in diversified asset classes (, Shari'a-compliant Equities, Precious Metal ,Soft (Agricultural) and Energy (Oil) Commodities, Brazil Real and Chinese Renminbi currencies)

  • Best performing asset class is picked and dropped from further calculations every six months.

John Chang, Head of Retail Banking at Noor said: "The Hybrid Pick and Drop Structure is the perfect way for clients to invest in financial markets and participate in their growth, while having the security of 100 per cent capital protection. This unique product is a good tool for allowing clients to take advantage of investment cycles and opportunities. It demonstrates our ability to provide exceptional value to investors."

The GCC Volatility Cap structure has been designed to appeal to both moderate and aggressive investment risk clients. It offers:

  • GCC market access without downside risk

  • A diversified portfolio of underlying stocks across different markets and sectors

Chang said: "This product is unique in the way that it tracks the volatility of the underlying equities basket. If the set benchmark is breached the exposure to equities is trimmed and moved to murabaha equivalent investments. This is a very innovative way for our clients to invest in equities, with the added benefit of 100 per cent capital protection."

Noor's shari'a compliant funds invest according to Islamic principles. Generally, these principles require that investors avoid interest (riba) and investments in businesses which are prohibited according to Islamic jurisprudence. The funds avoid bonds and other interest-bearing securities, while seeking capital protection against inflation by making long-term equity investments.

Since its launch in 2008, Noor has gained a reputation for launching innovative, client centric, tailored investment products. Its wealth management offering consists of a comprehensive product suite with diverse asset classes, offered through a range of products, including Mutual Funds, Structured Deposits, FOREX based products and protection, or takaful products (Islamic insurance),.

Noor's comprehensive list of funds covers different sectors, geographies, investment structures and gives clients a broad range to choose from while ensuring that it has the best funds and managers to take care of clients' investments.

-Ends-

About Noor Islamic Bank
Established in 2008 in Dubai, Noor Islamic Bank is a full service bank delivering the broadest range of products for its customers, with an emphasis on unique and personalized services. Noor Islamic Bank's products and services are governed by a Shari'a Board, comprising leading Islamic scholars with extensive experience and expertise in legal, financial and banking-related matters. Noor Islamic Bank has locations across the UAE in the Emirates of Abu Dhabi, Dubai, and Sharjah. Noor Islamic Bank is 50% owned by the Dubai government and 5% owned by the Emirates Investment Authority; the remaining 45% is held high net worth individuals in the UAE. For further details, please visit: www.noorbank.com or call 800NOOR(6667).

For media enquiries please contact:
Malcolm Ward
APCO Worldwide
Mobile: +0506246539
Email: MWard@apcoworldwide.com

© Press Release 2012