Abu Dhabi, UAE – Abu Dhabi Islamic Bank (ADIB), a leading financial institution, has launched a second ‘Advanced & Autonomous Car’ Equities Basket Note, following high investor demand for the first tranche. The Shariah-compliant note, designed to capture the investment opportunity provided by technological disruption to the car industry, matures in one year and provides 100% capital protection at maturity to minimise any investment risk.
The product provides investors with exposure to a basket of five leading international companies operating across the car industry and which are pioneering the next generation of vehicles, including Daimler, SAP, Volkswagen, BMW and Tesla. The minimum investment for the note is US$30,000, with an option for early redemption after three months.
Daffer Luqman, Global Head of Liabilities and Wealth Management at ADIB, said: “We offer our clients a wide range of wealth management products and solutions to address their specific investment and financial needs. This new wealth management product gives our customers access to a diversified basket of international companies in the car industry. ADIB’s Shariah-compliant themed equity basket notes continue to see high demand from investors who appreciate the opportunity to achieve strong returns with no risk to their capital.”
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. In September 2017, the bank launched a similar equity basket note, which attracted high demand from investors. The note provided investors with exposure to a basket of nine companies operating across the car industry.
On September 7, 2017, an ADIB Shariah-compliant diversified equity basket note capturing the performance of undervalued blue-chip yielded 5.45% upon its maturity.
© Press Release 2017