DIB launches new capital protected fund

Staff Reporter
Filed on May 24, 2006

DUBAI Dubai Islamic Bank (DIB) has launched "Al Islami Capital Protected Note", an investment fund that will invest in the Sharia compliant equities in the US, European, and Japanese Stock Markets.

The fund has a 5-year maturity, and capital protection at maturity through Sharia compliant structure. For greater flexibility, investors can redeem their capital up to twice a month. Subscription to the fund will run from May 2 to May 30, 2006.

Saeed Al Qattami, Senior Vice-President, Wealth Management & Private Banking said that the minimum investment amount is kept at $10,000 for individuals and $25,000 for institutions. The investment could also be higher in multiples of $1,000 for both segments. He added: "The Fund provides an easy and convenient opportunity for all types of investor to take part in the world's largest stock markets. It presents an opportunity for retail and high net worth investors to take part in the growth of global markets, but to do so in a way that is Shariah-compliant and therefore ethically sustainable."

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