Click here: Zawya.com - DIB launches two new products
Dubai Islamic Bank (DIB) announced today the simultaneous launch of two innovative investment products that provide customers with a highly diversified approach to their investments. Launched by DIB’s Wealth Management Division, the two products include the eight-year USD36 million Al Islami Shipping Fund II, which offers an expected income of eight per cent annually, with quarterly profit distribution through a Musharaka contract, or Islamic Partnership; and the three-year Sharia-compliant Capital Protected 50/50 Upside Note (with a Sharia-c compliant mechanism to achieve capital protection), which provides exposure to the global equity market through a unique Long-Short strategy developed by Deutsche Bank and will benchmark the performance of the Alpha Pairs Sectors index of – a unique long-short strategy developed by Deutsche Bank..
Both products have been approved by DIB’s Sharia Board, which is headed by Dr. Hussain Hamed Hassan, a memberHead Chairman, Sharia Board DIB Group and the Head of the Sharia Supervisory Committees of many leading Islamic financial institutions. DIB’s Sharia Board will continually monitor the entire investment and reporting process.
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