UAE’s leading Islamic Bank, Abu Dhabi Islamic Bank (ADIB) has launched a new healthcare-focused equities basket note which offers 95 percent capital protection while giving no cap on the potential return and matures in 12 months.
During last year, the healthcare stocks gained considerable attention due to the COVID-19 pandemic that has increased the requirement for effective treatments and a race for a proven and secure vaccine.
The note is open for subscription until February 4, 2021, with a minimum investment commitment of about $50,000 and the customers will have the option to redeem their investment after a three-month lock-in period.
The Shariah-compliant product matures in the period of one year and offers investors access to leading international healthcare companies and it is designed to capture the estimated growth of companies involved in the research & development, manufacturing, and selling of treatments, medicines, and vaccines.
In 2020, the stocks including Merck & Co, Gilead Sciences, Johnson & Johnson, Sanofi and Novartis, which diversified its portfolio of pharmaceutical products that attract consistent demand around the world.
“The launch of this new Shariah-compliant healthcare equity basket note provides exposure to leading international healthcare companies primed to capitalize on such trends in a post-COVID-19 world. It is expected to offer strong returns with limited risk to their capital. As a bank, we will continue to develop tailored wealth management solutions to customers which allow them to meet their financial goals through a diversified investment portfolio.”
As one of the UAE’s leading banks, ADIB has a strong track record of developing and delivering best-in-class solutions developed to meet the financial needs of customers, and across financial planning and asset allocation.