The healthcare sector has become, perhaps, the most important one in the economies around the world since last year when the COVID-19 pandemic hit globally. Investors and financial institutions have been rushing to invest in the healthcare industry. The Islamic finance industry is no exception.
The Sharia-compliant equities basket note by the Abu Dhabi Islamic Bank invests in some of the biggest healthcare entities.
The healthcare sector looks like continuing its strong run into this year – the Abu Dhabi Islamic Bank (ADIB) definitely reckons this to be the case by launching a new healthcare-focused equities basket note. The structured note provides 95 percent capital protection while offering no cap on the potential return. It matures in 12 months.
Saif Alkeem, Head of Wealth Management & Priority Banking at ADIB, said: “Healthcare is one of the sectors that has seen strong investor interest during this pandemic induced era. The launch of this new Sharia-compliant healthcare equity basket note provides exposure to leading international healthcare companies primed to capitalize on such trends in a post-COVID-19 world.”
The ADIB note is designed to capture the projected growth of companies involved in the research & development, manufacturing, and selling of treatments, medicines, and vaccines. Stocks include Merck & Co, Gilead Sciences, Johnson & Johnson, Sanofi, and Novartis.
The note is open for subscription until February 4 with a minimum investment commitment of $50,000. Customers will have the option to redeem their investment after a three-month lock-in period.