Shamil Bank launches Sharia-compliant range product

Shamil Bank in Bahrain has launched Shamil FX Modaraba, a one-year, Sharia-compliant capital-protected range product linked to the Euro/USD rate. The product offers two payout options. Option A pays 12% after twelve months, provided the Euro/USD rate has remained within the predefined range during the term; otherwise it returns capital.Option B pays a minimum 2.25% after twelve months, or 8.25% if the Euro/USD rate has remained within the predefined range during the term. The range has not yet b