June 4, 2018

Abu Dhabi Islamic Bank to launch cloud technology basket note

The launch aims to minimize investment risks by providing unique growth opportunities in the cloud market.

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Abu Dhabi Islamic Bank (ADIB) are all set to launch a 100% capital protected cloud-backed equities basket note to capture growth in the cloud computing market. With this launch, ADIB say that they will help minimize investment risks by providing a unique understanding of growth opportunities in the market.

According to ADIB, cloud technology is used today by a large number of organizations of all sizes. They claim that by 2025, more than 55 percent of the organizations will have implemented an ‘all-in’ cloud software strategy.

With this cloud-backed equities basket note, ADIB say that they will provide clients with the opportunity to invest in an equity basket of leading IT and cloud companies. They say that this clarity will allow clients to make better decisions when it comes to investing in the cloud market.

Speaking about the launch, Saif Alkeem, Head of Wealth Management and Priority Banking at ADIB, commented:

Cloud technology plays a fundamental role in the global economy and nearly all companies today rely on services provided by cloud companies.

This underlying basket consists of innovative companies that are either dominating or creating an impact in the cloud industry. Through this investment note, ADIB is providing a unique opportunity to tap this growth, while offering the peace of mind of full capital protection.

In closing, ADIB said that the note will mature in 12 months and provide 100% capital protection. They also added that customers will have the option to redeem the investment after a three-month lock-in period on a monthly basis.

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