ADIB bets on car manufacturers

United Arab Emirates-based Abu Dhabi Islamic Bank (ADIB) has launched a new capital-protected note linked to the performance of the world’s biggest car manufacturers. The Shariah-compliant 100% capital-protected note linked to a basket of shares comprising Toyota, GM, Volkswagen, Honda Motors and BMW has a one year tenor and offers a potential 8% yield at maturity. According to the bank, the automobile sector has performed impressively in 2013 sustained by the economic recovery and escalating