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Al Islami Aircraft Fund
Summary Terms:
- Product: Al Islami Aircraft Fund is a Shari'ah-compliant investment fund established and set up by Dubai Islamic Bank PJSC (the "Bank") with the objective of investing in income generating aircraft leased to and operated by commercial airlines
- Expected Profit: 7 percent per annum
- Profit Payment Frequency: Quarterly
- Target IRR: 9 percent per annum
- Investment Tenor: 3 years with possible extensions for an additional two periods of 18 months each at the discretion of the Bank
- Fund Size: US$52,000,000
- Investment Unit Price: US$25,000 each
- Investment Currency: United States Dollars ("US$")
- Minimum Investment Amount: US$50,000 and multiples of US$25,000 thereof
- Expected Maturity Date: 10 July 2011 (or such later date as may be decided upon by the Bank, subject to the exercise of the Extension Options).
- Extension Options: The Bank may, at its sole discretion, extend the maturity of the investment units by two additional periods of 18 months each
- Lease Manager: GE Commercial Aviation Services Limited ("GECAS")
- Fund Manager: Dubai Islamic Bank
- Exclusive Distributor: Dubai Islamic Bank
- Shari'ah Advisor: Dubai Islamic Bank Shari'ah Board
- Data Administrator: Ryland Gray