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ADIB Markets Shariah-Compliant Leasing And Finance Opportunities In The UAE
(29 April 2020)
The launch of the second fund follows the remarkable success of the first fund

ADIB, the leading Islamic financial services group, has signed an agreement with WCB Investments, a joint venture between National Investment Company (NBK Capital), the investment arm of NBK, and Wafra Capital Partners, a New York-based investment management company.

The launch of the second fund follows the remarkable success of the first fund, which has met with high demand levels from ADIB's private banking customers since its launch in the UAE last year.

The Fund is committed to a special financing strategy aimed at achieving attractive returns on a risk-adjusted basis of 6.50% per annum by investing in leasing and other asset-based financing transactions across a wide range of sectors, credit portfolios and assets.

Saif Al-Alkim, Head of Wealth Management and Distinguished Banking at ADIB, said: "ADIB's focus is mainly on enabling its customers to access the best products and investment opportunities locally and internationally, and to achieve the highest possible return on their investments on a risk-adjusted basis. The Shariah-compliant Leasing and Finance Opportunities Fund 2 is based on the remarkable success of the first fund and seeks to achieve rewarding returns based on a disciplined investment strategy. We saw significant demand levels for the first fund when we launched it in 2019. This exclusive offer is suitable for private and premium banking customers looking to diversify their portfolios by adding new asset classes."

Faisal Al Hamad, CEO of NBK, said: "We are proud to partner with ADIB and launch our second fund to give investors in the UAE the opportunity to invest in this unique program. The Leasing and Finance Program is one of our most prominent investment strategies, with consistent performance and track record since its inception 20 years ago. This program is based on a unique investment structure that focuses on partnerships, consistency of common interests and risk reduction."

Based on its leading presence in the UAE banking sector, ADIB continues to provide its clients with the best investment solutions to meet their financial requirements through financial planning and asset allocation based on effective and well-thought-out methodologies. The Bank is launching 100% capital-protected investment certificates in a basket of world-leading companies to enable its clients to benefit from strong growth potential in some sectors.

NbK is one of the region's leading investment management institutions, focusing on four core activities including asset management, alternative investments, trading and investment banking. The company serves its customers through its regional offices in Kuwait, Dubai, Istanbul and Cairo, and manages a US$7 billion asset portfolio with the support of its team of more than 158 investment experts.

ADIB has won numerous prestigious awards for its private banking products over the past few months, including "Best Private Bank in the UAE" and "Best Private Islamic Financial Bank in the World" at the 2019 Global Private Banking Awards. The bank was also awarded the "Best Islamic Bank in the World" award from The Banker magazine of the Financial Times, the "Best Outstanding Banking Provider in the UAE" award from Banker Middle East, and the "Best Islamic Bank" award from the Emia Finance Middle East Awards.

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