Emirates Islamic Bank (EIB) has launched the Emirates Mena CPPI Note, a three-year Shariah-compliant structured note linked to the performance of its Emirates Mena Opportunities Fund.

The capital–protected note, which has been developed in conjunction with Deutsche Bank, offers growth based on Middle East and North Africa (Mena) equities.

“'The Mena CPPI Note has been designed with the current market scenario across the Mena region in mind,” said head of retail banking at Emirates Islamic Bank Faisal Aqil. “With the market facing high volatility at the moment, the Note ensures 90% capital protection for investors, giving them a perfect opportunity to participate in the economic growth of the region with a limited risk to capital.”

The note's exposure to the Emirates Mena Opportunities Fund at inception will be approximately 60%, but this may increase to a maximum of 150% during periods of consistent out-performance.