Qatar's Al Khaliji bank has launched its second structured deposit, a one-year product paying 3% plus a further 7% linked to the performance of crude oil.
The bank said the launch follows the success of its first guaranteed deposit, which was launched in 2009 and linked to gold. "Customer demand for the first in our series of guaranteed deposit products was overwhelming - we were extremely pleased," said Andrew Ball, acting group head of consumer banking. "Based on this response, we have worked hard to bring this second product to market quickly, whilst ensuring that all of the key benefits demanded by our customers remain firmly in place."
The bank said it has doubled the capacity of its crude oil product due to 'anticipated high demand', but did not disclose the sales volume or target of either tranche. The product is open now and closes on 20 April.