FOR IMMEDIATE RELEASE
Citigroup Inc. (NYSE: C)
July 28 2008
Malaysia: Citi Wins Asset Magazine’s “Most Innovative Shariah-Compliant Structured Product” Accolade
Kuala Lumpur – The Asset magazine has awarded Hong Leong Tokio Marine Takaful Capital Protection Investment Link Fund (CPIL) Scheme the Most Innovative Shariah-Compliant Structured Product in its recent 2008 Asia Pacific Structured Products and Derivatives Awards.
HLTM Takaful managed the scheme and Citibank Berhad was the structure provider.
This new scheme’s a three-year Shariah compliant principal protected investment using the concepts of Murabaha and Wa’d where the returns at maturity are benchmarked against the performance of the best performing investment basket made of real estate related indices and commodities.
Sanjeev Nanavati, CEO Citibank Berhad, said, “We are very pleased to have been given this award as structure provider as it is in line with our commitment to develop Malaysia as a hub for Islamic finance, by introducing innovative cutting-edge Shariah compliant products that are globally accepted.”
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