1 April 2008 HSBC Amanah launch sharia-compliant depositHSBC Amanah in the Middle East has launched the Amanah Premium Deposit Plus, a sharia-compliant deposit which is designed to provide exposure to a basket of global infrastructure stocks including energy, gas and electric utilities, transportation, construction and engineering and marine. http://structuredproductsonline.com/public/showPage.html?page=758261
The three-year 100% principal protected deposit provides a return equal to an indicative participation rate of 60%-80% of the increased performance of basket of stocks with a maximum end of term profit capped at 39%. The basket comprises Alstom, Veolia Environment, Gripo Ferrovial, Vinci, Lafrage, Campagnie de Saint-Gobain, Caterpillar, Ericsson, and Albertis Infraestructuras.
A minimum deposit of AED37,000 or US$10,000 is required.