The Hybrid Pick and Drop Structure is designed for conservative to moderate risk clients, who want exposure to diverse range of opportunities without risk to capital.
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The new products, which allow clients to invest in precious metals, currencies, equities, energy and agricultural commodities, with 100% capital protection, join an impressive line-up of 33 shari’a compliant mutual funds distributed by Noor.
The product includes a 100% capital protected three-year investment. Investment in diversified asset classes (Shari’a-compliant Equities, Precious Metal, Soft (Agricultural) and Energy (Oil) Commodities, Brazil Real and Chinese Renminbi currencies) and also best performing asset class is picked and dropped from further calculations every six months.
Noor Islamic Bank CEO of Noor Investment Group and CEO Hussain AlQemzi said these two products fill a gap in Shari’a compliant investment space and provide clients the opportunity to benefit from the upside of investment cycles.
Noor Islamic Bank head of retail banking John Chang said the Hybrid Pick and Drop Structure is the perfect way for clients to invest in financial markets and participate in their growth, while having the security of 100% capital protection.
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