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Article: AmIslamic fund eyes RM75m deposits
- Article from:
- New Straits Times
- Article date:
- July 16, 2009
- Author:
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Azlan Abu Bakar
New Straits Times
07-16-2009
AmIslamic fund eyes RM75m deposits
Byline: Azlan Abu Bakar
Edition: Main/Lifestyle
Section: Business Times
Type: Company
AMISLAMIC Bank Bhd launched yesterday its second Islamic structured deposit, the AmMomentum Select Islamic Negotiable Instrument of Deposit (NID-i).
The new product is aimed at providing a safe and profitable haven for investors. The minimum investment is RM70,000.
AmBank Bhd retail banking executive director Mahdi Murad said the NID-i, which is expected to raise RM75 million in deposits in a month, will perform in bull markets and protect investors during bear markets.
Mahdi said the NID-i is a highly innovative rule-based asset ...