Malaysia's Bank Muamalat is offering Islamic Dual Currency Investment, a Shariah-compliant FX-linked structured products, to local institutions
Denominated in ringgit, euro or US dollars, DCI-i is a deposit-wrapped investment based on the concept of Wakalah bil Istithmar (an agency for investment) and offers potential high interest rates based on the derivative-based links to a choice of foreign currencies.
The bank plans to continue to expand its range of services and products, encompassing not only traditional Islamic banking products, but also more innovative Shariah-compliant investment products to cater to increasing levels of customer sophistication, said Bank Muamalat's CEO, Datuk Mohd Redza Shah Abdul Wahid.
He reiterated the importance of investor education and protection through proper disclosure and the need for investors to clearly understand the nature of such products and risks involved.