KUCHING: Bank Islam Malaysia Bhd (Bank Islam) launched the Ziyad NID-i that taps on the recovery of Asia’s equity markets.This is a five-year investment product designed for investors who appreciate medium to long-term returns. Ziyad NID-i is structured in the form of Islamic Negotiable Instruments (INI) with a 100 per cent capital protection upon maturity. ‘Ziyad’ means growth literally and the fund is based on the concept of Mudharabah Muqayyadah.

“Ziyad NID-i offers attractive return structure using conservative features to protect investors’ interests. As Asian economies continue to recover, the stock markets are also expected to perform well, thus suggesting potentially higher yields for Ziyad NID-i,” said Bank Islam general manager (consumer banking division) Khairul Kamarudin in a press statement recently.

“Ziyad NID-i is linked to a basket of stocks deemed to benefit from the massive stimulus plans undertaken by different Asian governments. The stocks in the basket are China Mobile Ltd (China), CNOOC Ltd (China), Panasonic Corp (Japan), Canon Inc (Japan), BHP Billiton Ltd (Australia) and KDDI Corp (Japan),” he said.

The six stocks chosen are constituents of the Dow Jones Islamic Market Titans 100 Index, which consists of the world’s largest 100 companies engaged in syariah-compliant businesses.

Bank Islam is targeting an initial fund size of RM100 million. The minimum investment amount for Ziyad NID-i is RM65,000 with subsequent investments in the multiples of RM5,000.

This financial product is available at all Bank Islam branches nationwide. The closing date for subscription is Dec 15.