The offering includes a 100 per cent capital protection scheme.
Abu Dhabi Islamic Bank (ADIB) has unveiled 100 per cent capital protected cloud technology equities basket note, designed to capture the growth in the cloud computing industry.
The investment note matures in 12 months, provides 100 per cent capital protection at maturity to minimise investment risk and is opens for subscription until 23 June 2018.
According to ADIB, customers will have the option to redeem the investment after a three month lock in period on a monthly basis.
The note provides clients with the opportunity to invest in an equity basket of leading global IT companies, including Amazon, Microsoft, SAP, Red Hat, Oracle Corporation, and Salesforce.
According to the Intelligent Data Corp, the cloud is growing seven times faster than the rest of the IT industry. By 2025, PwC expects 55 per cent of large enterprises to successfully implement an all-in cloud software as a service (SaaS) strategy. The latest IDC forecast indicate that public cloud spending will grow almost 25 per cent this year, topping $122 billion, and the growth is set to continue up through 2020.