Qatar-based Al Khaliji Commercial Bank has bolstered its structured deposits range with three new tranches, providing exposure to government bonds and commodities.
"At a time of highly volatile commodity and capital markets, clients are reluctant," said Andrew Ball, group head of consumer banking. "These products are especially geared towards our Premium customers, and meet their requirements for innovative investment opportunities."
The Qatari bank said that its structured deposits range has been devised to allay fears about putting money into long-term funds in this time of economic uncertainty, by providing relatively short-term maturity periods for the products - ranging from one to three years.
The Al Khaliji Global Government Bond Structured Deposit - Al Khaliji VC Commodity Autopilot Index Structured Deposit , as well as the Al Khaliji Exotic Gold Structured Deposit, both offer 100% capital protection at maturity as well as an undisclosed participation on any growth in the underlying assets.
Despite not disclosing the counterparty of the products, Al Khaliji's head of premium banking and product management, Arfat Qayyum, said the products have been developed in partnership with world- class banks that have strong track records in asset management: "Our customers have come to trust us with their investment opportunities and we do extensive due diligence to ensure that we build on this trust," he said.
As reported, Al Khaliji Commercial Bank's last structured deposit, a two-year investment linked to the performance of a basket of Middle Eastern equities, was marketed in June 2011.