The two-month grace period covers all types of visas, including tourist and expired residency permits
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The principal-protected transaction allows investors to benefit from the upside in prices of three key commodities — platinum, aluminium and crude oil. An exposure to a basket of commodities allows investors to diversify risk and decrease volatility when added to a portfolio of financial assets.
Previously, high net worth investors had no Sharia-compliant way to access the commodities market in a structured format and were denied the opportunity to gain from the recent rallies in this asset class.
"This ground-breaking Islamic structure will allow high net worth investors to take exposure to this exciting asset class, to benefit from the diversification play in their portfolios in addition to take advantage of the surging prices of commodities in response to strong demand pulls," said Ahmed Barakat, Investment Services Product Manager at Abu Dhabi Commercial Bank.
"There is a growing appetite from Islamic investors for opportunities to invest in all asset classes. Deutsche Bank is at the cutting-edge when it comes to Islamic products and we plan to bring many more innovations to the market in the near future," said Nizar Al-Shubaily, Global Head of Islamic Finance at Deutsche Bank.
Deutsche Bank is making a concerted effort to market its growing array of innovative Sharia-compliant asset and liability products for capital raising, hedging and yield enhancement purposes, as well as for retail and private banking uses.
"This represents the ADCB’s continuous move in introducing new innovative products to its distinguished clients," said Ala’a Eraiqat, Head of Consumer Banking Group at the ADCB.
The two-month grace period covers all types of visas, including tourist and expired residency permits
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