ABN Amro rolls out another sharia investment in Middle East
ABN Amro has launched the Islamic Basic Resources and Energy Basket Yield Discovery Certificate for investors in the Middle East, a sharia-compliant product, which is designed to provide exposure to the energy and basic resources sectors.
The four-year 100% capital protected certificate pays an annual profit rate based on the performance of a basket of equities comprising companies in the oil, gas and consumable fuels; energy equipment and services; chemicals; industrial conglomerates; and metals and mining sectors.
The profit rate is capped at 15% per year. As long as the basket level is above its initial value on a profit rate distribution date the product will pay an income. The performance of the basket is calculated as the
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