Emirates Islamic Bank introduces the Emirates MENA CPPI Note

Press Release Content

Emirates Islamic Bank (EIB), one of the leading Islamic financial institutions in the region, has added to its portfolio of innovative investment offerings yet another unique product; the Emirates MENA CPPI Note, a 3 year Shari’a compliant structured note linked to the performance of the Emirates MENA Opportunities Fund – one of the various in-house managed funds that was launched by EIB 2 years ago and has had an impressive performance since launch.

The MENA CPPI Note has been developed in conjunction with Deutsche Bank with the two-fold aim of meeting the increasing demand for Shari’a compliant structured products and providing a high degree of capital protection over the Emirates suite of funds. It offers potential investors an opportunity to invest the Middle East and North Africa (MENA) region.

“The MENA CPPI Note has been designed keeping in mind the current market scenario across the MENA region” said Mr. Faisal Aqil, GM Retail Banking at Emirates Islamic Bank. “With the market facing high volatility at the moment, the Note ensures 90% capital protection for investors at maturity, giving them a perfect opportunity to participate in the economic growth of the region with a limited risk to capital” he added.

Like the other products unveiled by the bank, the MENA CPPI Note will also follow a Shari’a compliant structure and will be professionally managed by a team of fund managers.

The Note aims to achieve long-term capital growth from a diversified portfolio of Shari’a compliant equity securities and other assets primarily in the GCC and the MENA region. The Note’s exposure to the Emirates MENA Opportunities Fund at inception will be approximately 60%, but this may increase to a maximum of 150% during periods of consistent out performance.

A mechanism has also been put in place for the Note to switch allocation from the Fund to the protection portfolio in periods of underperformance. The Note can be bought and sold at market value in the secondary market.

Notes and contacts

About Emirates Islamic Bank

Emirates Islamic Bank opened its doors in October 2004 with a mission to provide consumers in the UAE with effective and innovative Shari’a-compliant financial solutions.

The Bank offers a range of Shari'a compliant products and services conforming to the highest standards of Islamic finance and all its activities are overseen by a Shari'a board comprising several prestigious scholars of Islamic law.
On the retail side, the bank has an array of products, such as a full range of credit cards including Visa Infinite Card; Manzili Home Finance, Intaleq Car Finance, and many other products.

The bank has also launched Al Reem Ladies Banking, a specialized banking service designed to cater to the banking and financial needs of women in the region.

The bank also offers Ethmar Priority banking to suit the demands of the high-net-worth clients.

Emirates Islamic Bank is very active on the Corporate Banking level, seeking exceptional investment opportunities in the local as well as the regional market. Within almost three years of its inception Emirates Islamic Bank has managed to position itself as one of leading financial players in the UAE’s banking sector.

The bank’s rapid growth and success is mainly due to its continued successful launch of Shari’a compliant products, services and other key business initiatives.
EIB is headquartered in Dubai and employs more than 800 staff.

LATEST PRESS RELEASES