DIB launches Al Islami Aurum+ 1 Dirham Certificate
26 Sep 2012 04:26 GMT
 

Developed by the Royal Bank of Scotland (RBS), the Al Islami Aurum+ 1 Dirham Certificate attempts to generate returns in any market environment by (more)

Developed by the Royal Bank of Scotland (RBS), the Al Islami Aurum+ 1 Dirham Certificate attempts to generate returns in any market environment by taking exposure and switching between oil and gold. The underlying allocation strategy of this certificate is based on an approach that allocates between gold as a "safe-haven asset" and oil as an "aggressive asset," as a function of market trends identified by the gold-oil ratio.

"Based on a dynamic strategy of switching between two of the most sought after commodities, oil and gold, the Al Islami Aurum+ 1 Dirham Certificate is an excellent opportunity which aims to generate returns in any market environment," said Dr. Adnan Chilwan, Deputy Chief Executive Officer of DIB . "Investors who understand the interplay between gold and oil in times of financial turmoil or relative stability will appreciate this certificate, especially more so due to the high level of capital protection. We are happy to offer this unique Sharia-compliant investment product to our valued clients - the latest in a long line of first-to-market innovations available at Dubai Islamic Bank ."

Gold, or aurum in Latin, has long been considered an ideal investment in times of uncertainty. Meanwhile, during periods of economic stability and sustained growth, demand for crude oil typically increases, from both emerging and developed economies, leading to upward pressure on the price. Through the Al Islami Aurum+ 1 Dirham Certificate, DIB is providing an unparalleled opportunity for investors to invest simultaneously and strategically in both commodities.

Investors will also enjoy a high level of capital protection, with no requirement to commit their capital for the entire investment period. Investors will receive 90 per cent of their total investment three business days from the issue date of the certificate - with returns based on 110 per cent of the full investment amount.

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About Dubai Islamic Bank : Dubai Islamic Bank ( DIB ), established in 1975, is the first Islamic bank to have incorporated the principles of Islam in all its practices and is the largest Islamic bank in the UAE. DIB is a public joint stock company, and its shares are listed on the Dubai Financial Market. The bank enjoys a reputation as a leader and innovator in maintaining the quality, flexibility and accessibility of its products and services. The bank currently operates 75 branches in the UAE.

DIB has been proactive in creating partnerships and alliances at both the local and international level. The bank has established DIB Pakistan Limited, a wholly owned subsidiary which has a network of 75 branches across 30 major cities in Pakistan. DIB has also started operations in Jordan, with the establishment of Jordan Dubai Islamic Bank

Alongside its accomplishments as a commercial organisation, DIB has always recognised its wider role in society. The bank supports the communities in which it operates through the DIB Foundation, a non-profit social, humanitarian and charitable organisation which distributes millions of dirhams to good causes at home and abroad each year.

DIB has earned the respect of its peers around the world for many years, and its leading position has been reaffirmed by the 92 local, regional and international accolades that it has won between 2008 and 2012. DIB has won awards across diversified areas, including retail, corporate and investment banking, as well as CSR and consultancy services. The bank's most recent awards include being named "Best Islamic Bank, UAE" by World Finance and Banker Middle East magazines, "Best Distance Banking Service" (Electronic Banking Services) by Banker Middle East, and being named among The Banker's "Deals of the Year for 2012."

For further information, please contact:Liam Turner / Tameem Al KintarASDA'A Burson-MarstellerDubai, UAETel: 971-4-4507600 Fax: 971-4-4358040E-mail: liam.turner@bm.com / tameem.alkintar@bm.com

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