Abu Dhabi, UAE – Abu Dhabi Islamic Bank (ADIB), a leading financial institution, has launched an ‘Advanced & Autonomous Car’ index-weighted Equities Basket Note, designed to capture the investment opportunity provided by technological disruption to the car industry and growing demand for self-driving cars. The Shariah-compliant note matures in one year and provides 100% capital protection at maturity to minimize any investment risk.

The product provides investors with exposure to an index-weighted basket of nine leading international companies operating across the car industry and which are pioneering the next generation of vehicles, including General Motors, BMW, Volvo and Tesla. The minimum investment for the note, which has a maturity date of September 24, 2018, is US$30,000.

Daffer Luqman, Global Head of Liabilities and Wealth Management at ADIB, said: “ADIB’s Shariah-compliant index-weighted equity basket notes continue to see strong demand from investors who appreciate the opportunity to achieve strong returns with no risk to their capital. Technology is transforming the car industry as electric and innovative self-driving vehicles become increasingly sophisticated and common on our roads. This note provides investors with exposure to car manufacturers at the cutting-edge of developing and selling the next generation of autonomous vehicle. Launching such exciting investment products is aligned to our strategy of allowing clients to build a diversified portfolio which matches their financial goals.”

ADIB continues to develop and deliver best-in-class solutions tailored to meet the financial needs of customers through effective financial planning and asset allocation.

The nine car manufacturers included within the equity basket note are: Tesla, General Motors, Daimler, Delphi Automotive, SAP, BMW, Volkswagen, Volvo and Autoliv.

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About ADIB
ADIB is a leading bank in the UAE with more than AED 122 billion in assets. Its 951,000 customers benefit from the third largest distribution network in the UAE with 81 branches and more than 720 ATMs. The bank also offers world-class online, mobile and phone banking services, providing clients with seamless digital access to their accounts 24 hours a day. ADIB provides retail, corporate, business, private banking and wealth management solutions. The bank was established in 1997 and its shares are traded on the Abu Dhabi Securities Exchange (ADX).

In the UAE, the Bank has more than 2,000 employees and remains one of the leading banks in the recruitment, development and promotion of local talent in all the markets in which it operates. The bank has one of the highest Emiratisation ratios with approx. 40 percent of the bank’s workforce being UAE Nationals.

ADIB has presence in six strategic markets: Egypt, where it has 70 branches, the Kingdom of Saudi Arabia, the United Kingdom, Sudan and Iraq.

Named “Best Bank in the UAE” by The Financial Times’ The Banker publication, ADIB has a rich track record of innovation, including introducing the award-winning Ghina savings account, award-winning co-branded cards with Etihad and Etisalat and a wide range of financing products.

© Press Release 2017