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Al Islami Capital Protected CROCI Note
Al Islami Capital Protected CROCI Note is an investment product that provides an exposure to international stock markets. Investors are assured that they will redeem at least their initial investments if they hold the investment until maturity. The equity portfolio methodology and investment protection methodology are fully compliant with the principles of Sharia. In this product, capital protection is a consequence of a complex technique employed by the Investment Manager and approved by the leading Islamic finance scholars.
Investment Manager: Deutsche Bank.
Product Features
Underlying / Reference Index: Deutsche Bank CROCI Islamic Global Index.
Capital Protection: 100% at maturity (5 years). Achieved through a Sharia-compliant mechanism.
Upside Participation: 75% participation in the upside of the CROCI Islamic Global Index.
Investment Term / Maturity: The product has a 5-year maturity for purposes of the capital protection. However, liquidity will be provided on twice-a-month basis.
Valuation: Weekly.
Subscription / Redemption: Investors may subscribe at the Offer price and redeem at the Bid price.
Subscription / Redemption Cut-off Date: 1st or 15th of every month. Investor request must be received by Dubai Islamic Bank by the cut-off date.
Subscription / Redemption Trade Date: 4 Business days after the cut-off date.
Business Day: Working day in London, UK and Dubai, UAE.
Early Redemption / Liquidity: Twice a month.
Early Redemption Fee: None. Investors can liquidate partial or full investment at the prevailing Bid price (which may be higher or lower than amount invested).
Minimum Investment:
Individuals: USD 10,000 /-
or higher (in multiples of USD 1,000).
Institutions: USD 25,000 /-
or higher (in multiples of USD 1,000).
Arrangement Fee: 1.00% on the initial investment payable to DIB; this fee is over and above the investment amount.
Placement Fee: 1.00% on the initial investment payable to DIB; this fee is over and above the investment amount.
Annual Management Fee: 0.50% per annum of Net Asset Value adjusted against the portfolio value.
Investment Manager: Deutsche Bank.
Manager & Exclusive Distributor in UAE: Dubai Islamic Bank PJSC.
Administrator: Ryland Gray.
Sharia Advisor: Fatwa and Sharia Supervisory Board, Dubai Islamic Bank.
The Al Islami 100% Capital Protected CROCI Note provides investors with a wide geographic diversification through participation in the upside of the CROCI Islamic Global Index. For the CROCI Islamic Global Index, the weightage for each of the regional indices are 50.0% for the US, 33.3% for Europe and 16.7% for Japan. The weightage is rebalanced quarterly. The Al Islami 100% Capital Protected CROCI Note subscribers participate 75% in the upside of the CROCI Islamic Global Index in return for the capital protection at maturity. The investment term is five years and the investment is 100% capital protected at maturity. However, the investment is liquid during the five year term and may be redeemed at the prevailing Bid price. Dubai Islamic Bank, through Deutsche Bank AG, will provide twice-a-month liquidity through the five-year term. Conformity with Sharia principles is ensured through issuance of fatwas from five of the world's top Sharia scholars, including Dr. Hussain Hamed Hassan, the Chairman of Dubai Islamic Bank's Fatwa & Sharia Supervisory Board.
Back-Testing Six-year back testing of the CROCI Global Islamic Index compared to the results of the Dow Jones Islamic World Market Index.
Indicative NAV: