Abu Dhabi Islamic Bank Launches New Shariah-Compliant Healthcare-Focused Equities Basket Note

United Arab Emirates-based financial institution Abu Dhabi Islamic Bank (ADIB) has launched a new Shariah-compliant healthcare-focused equities basket note, according to local media reports.

The structured note, which has a 12-month maturity, provides 95% capital protection, with no cap on the potential return. The Shariah-compliant product has a minimum investment of USD 50,000 and is open for subscription until the 4th of February 2021, with the option for customers to redeem their investment after a three-month lock-in duration, local media reported.

According to Saif Alkeem, Head of Wealth Management and Priority Banking at ADIB, the healthcare sector has witnessed strong interest from investors during the COVID-19 pandemic era, and the launch of the ADIB Shariah-com...