LLB and ABN Amro launch sharia certificate
Swiss asset manager Liechtensteinische Landesbank (LLB) and Dutch investment bank ABN Amro have partnered to launch a Middle East index tracker certificate. The sharia-compliant Middle East index tracker is linked to the performance of the LLB Top 20 Middle East Total Return Index and is the first product of its kind.
The certificate has been listed on the SWX Swiss Exchange and ABN Amro will provide intra-day liquidity subject to a bid-offer spread. The product is designed for investors who wish to gain exposure to the ever growing sharia market.
The LLB Top 20 Middle East Total Return Index consists of Middle Eastern liquid large caps from the stock markets of Bahrain, Egypt, Jordan, Kuwait, Lebanon, Oman, Qatar and United Arab Emirates.
Companies included in the index have passed a series of Islamic
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