February 20, 2008

Dubai Islamic Bank creates innovative new products

by Richard Kilner

Story link: Dubai Islamic Bank creates innovative new products

Yesterday the Dubai Islamic Bank launched two new products related to the rapidly expanding alternative energy sector.

Both of the new products are linked to the DWS New Resources Fund, which targets firms who are engaged with water, agrochemicals and renewable energies.

Both of the products are non-capital protected certificates a decade in length, and a capital-protected note for half that time.

They are priced in euros, with a lower limit 10,000 euro investment level.

Deutsche Bank structures and issues the products, and also offers redemption on a biweekly basis.

The products are the first such in the Gulf region.