ABN AMRO launches Islamic Commodity Basket Capital Protected Note in the GCC

Investors in the GCC can trade the Islamic Note on a secondary market operated by ABN AMRO which provides intra-day liquidity subject to a bid-offer spread.

The Islamic Note is designed to provide Shariah compliant exposure to a basket comprising Nickel, Zinc and Oil, whilst benefiting from full capital protection on the maturity date, fixed after 2 years.

Ruggiero Omar Lomonaco, Head of Islamic Investor Products at ABN AMRO commented "As product providers, we want to make sure that Shariah-compliant investors have easy access to the largest possible range of asset classes. This latest product offers the possibility to trade daily in the commodity market with a very low minimum trade size of USD 100".

"It is not our role to recommend whether investors should enter the commodity market at this stage. Our responsibility is to make available products so that when investors feel the time is appropriate to take a position in the market, they can easily find an investment solution with us", Lomonaco added.

ABN AMRO Islamic products employ a Shariah-compliant methodology to achieve exposure to a variety of asset classes and achieve capital protection at maturity. The uniqueness of the ABN AMRO structure is that the money of Islamic investors is at all times invested in Shariah-compliant assets and is not used to finance the balance sheet of conventional financial institutions, ensuring a complete separation of Islamic assets from conventional assets.