Abu Dhabi: Abu Dhabi Islamic Bank (ADIB) has launched an ‘Advanced & Autonomous Car’ index-weighted Equities Basket Note, designed to capture the investment opportunity presented by technological disruption to the car industry and the growing demand for self-driving cars.
The Sharia-compliant note matures in one year and provides 100 per cent capital protection at maturity to minimise any investment risk, according to a statement from the bank.
The product provides investors with exposure to an index-weighted basket of nine leading international companies operating across the car industry and which are pioneering the next generation of vehicles, including General Motors, BMW, Volvo and Tesla. The minimum investment for the note, which has a maturity date of September 24, 2018, is $30,000 (Dh110,190).
Daffer Luqman, global head of Liabilities and Wealth Management at ADIB, said: “ADIB’s Sharia-compliant index-weighted equity basket notes continue to see strong demand from investors who appreciate the opportunity to achieve strong returns with no risk to their capital.”
“Technology is transforming the car industry as electric and innovative self-driving vehicles become increasingly sophisticated and common on our roads. This note provides investors with exposure to car manufacturers at the cutting-edge of developing and selling the next generation of autonomous vehicle. Launching such exciting investment products is aligned to our strategy of allowing clients to build a diversified portfolio which matches their financial goals.”
