CIIB launches first Capital Protected Global Equity Portfolio
Bahrain’s, Citi Islamic Investment Bank (CIIB), a member of Citigroup has launched its first Capital Protected Global Equity Portfolio product in Bahrain and the United Arab Emirates (UAE). The investment opportunity offers 100 percent capital protection upon maturity at the end of a four-year period in addition to potential returns linked to a global basket of 20 Sharia'h compliant stocks.
Capital protection on the investment is provided by Citicorp New York, while underlying stocks have been selected from the Dow Jones Islamic Market Index. The Capital Protected Global Equity Portfolio, which has been approved by CIIB's Sharia'h Advisory Board, will be marketed exclusively by CIIB and Citibank outlets in the UAE and Bahrain. The minimum investment into the fund is $5,000.
CIIB was incorporated in 1996 as a 100 percent-owned subsidiary of Citigroup. Citigroup provides consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage and asset management. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
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