Islamic investment product offers exposure to either equities or gold depending on market conditions
Dubai Islamic Bank (DIB) today announced the launch of the Al Islami FlexiBeta Dirham Certificate, a two-year Islamic certificate, providing investors with exposure to either emerging market equities or gold, depending on market conditions. The Certificate is issued by Oasis Certificate Programme Limited (“Oasis”), a Special Purpose Vehicle that has been set up and sponsored by Citigroup to provide investors with a wide range of customized Sharia-compliant investment solutions.
The certificate uses a dynamic framework comprising of observation of recent price trends and a forward looking risk indicator to adjust allocation between two asset classes, equities and gold. Investors will enjoy a high level of capital protection without tying all their capital for the whole investment period. They will receive 90% of their total investment within two weeks of the issue date, with returns based on the full investment amount. The certificate is denominated in UAE dirhams with a minimum investment of AED 100,000.
“The Al Islami FlexiBeta Dirham Certificate has been launched at a time of opportunity in both the precious metals and equities markets,” said Dr Adnan Chilwan, Deputy Chief Executive Officer of DIB. “The appeal of this certificate is that it does not lock the capital for the entire investment period providing more liquidity to investors. We are pleased to offer our customers this innovative investment product, representing another first-to-market milestone from DIB.”
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