Abu Dhabi Islamic Bank has launched a 100 percent capital protected cloud technology equities basket note, designed to capture the growth in the cloud computing industry, according to the state news agency WAM.
The investment note matures in 12 months and provides 100 percent capital protection at maturity to minimise investment risk. The note opens for subscription until 23rd June, 2018, with a 30 percent participation rate in the upside positive performance. Customers will have the option to redeem the investment after a three-month lock-in period on a monthly basis. The note provides clients with the opportunity to invest in an equity basket of leading global IT companies.
Commenting on the announcement, Saif Alkeem, Head of Wealth Management and Priority Banking at ADIB, said, “Cloud technology plays a fundamental role in the global economy and nearly all companies today rely on services provided by cloud companies. This underlying basket consists of innovative companies that are either dominating or creating an impact in the cloud industry. Through this investment note, ADIB is providing a unique opportunity to tap this growth, while offering the peace of mind of full capital protection.”
