Islamic Banking

Deutsche Bank Unveils Product for Middle East HNWs

Paul Das, 4 May 2005

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Deutsche Bank has teamed up with Abu Dhabi Commercial Bank to launch a Sharia-compliant principal-protected fund for high net worth clients ...

Deutsche Bank has teamed up with Abu Dhabi Commercial Bank to launch a Sharia-compliant principal-protected fund for high net worth clients in the region.

The new fund is designed to allow investors to benefit from the upside in prices of three commodities, platinum, aluminium and crude oil. Deutsche Bank said the fund is the first of its kind in a Sharia-compliant form.

“This ground-breaking Islamic structure will allow high net worth investors to take exposure to this exciting asset class, to benefit from the diversification play in their portfolios in addition to taking advantage of the surging prices of commodities in response to strong demand pulls,” said Ahmed Barakat, investment services product manager at Abu Dhabi Commercial Bank, in a statement.

Deutsche Bank in the Middle East is making a concerted effort to market its growing array of innovative Sharia-compliant asset and liability products for capital raising, hedging and yield enhancement purposes, as well as for retail and private banking uses.

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