Abu Dhabi – Abu Dhabi Islamic Bank (ADIB) has inked an agreement with WCP Investments (WCPI), a joint venture led by NBK Capital (NBKC) and Wafra Capital Partners (WCP).

Under the agreement, ADIB will market WCPI's Sharia’a-compliant Islamic Leasing and Finance Opportunities Fund II (USD) in the UAE, according to a press release on Wednesday.

The fund is expected to achieve returns of 6.50% per year by investing in leasing and other asset-based or structured finance transactions across a variety of sectors, credit profiles, and assets.

Commenting on the agreement, the head of Wealth Management and Priority Banking at ADIB, Saif Alkeem, said: "?We witnessed significant demand for Fund I when we launched it in 2019. This exclusive offer should appeal to Private and Priority banking clients looking to further diversify their portfolios into new asset classes.”

Meanwhile, the CEO of NBK Capital, Faisal Al-Hamad, remarked: "We believe the Programme capitalizes on a unique investment structure and process that focuses on a partnership approach, interest alignment, and risk mitigation.”

Source: Mubasher

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