Arab Bank will launch a new investment linked deposit, the ILD 8, with a link to three indices, the Standard and Poor's 500, the DJ Eurostoxx 50 and Nikkei 225, according to the Gulf News on Monday.
The deposit will be open until September 30th, and the minimum investment will be $20,000 with additional amounts in increments of $10,000, said the daily.
As with all ILDs, this too will be a guaranteed deposit, with an investment element, it added.
Citing an Arab Bank statement, the paper said the plan makes the deposit risk-averse, capital-guaranteed dollar-based that could grow as stock markets gain, but will not shrink if the markets go down, the paper said -- Albawaba.com
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