The world's local bank
Internet Banking
or
Amanah Premium Deposit Plus
Looking for a Shariah compliant product that offers the potential to earn profits linked to the booming growth in agriculture, clean energy and healthcare across the world, in addition to offering principal protection? Then look no further than the Amanah Premium Deposit Plus.
Global warming will quite likely lead to an increase in arid lands around the world, impacting the world's food supply*. The demand for food will increase and factors such as soaring global populations and limited agricultural land, suggest that the agriculture business will inevitably see many investments and innovations. The world is facing twin energy-related threats: not having adequate and secure supplies of energy at affordable prices, and environmental harm caused by consuming too much of it. Global investment in renewable energy could reach USD 750 billion within the next 10 years**.
Advances in science, technology and medicine have increased life expectancy by almost double. Global spending on medicine is also increasing. In 2006, it topped USD 600 billion***. The demand for pharmaceuticals, medical supplies and instruments will increase, fuelling investment into these sectors.
The Amanah Premium Deposit Plus is a three year term deposit designed to offer:
100% Principal protection
Final profit linked to any positive performance of a basket of equally weighted global agriculture, healthcare and clean energy stocks, determined at the end of the three-year term.
Any profit paid at the end of the three-year deposit term will be equal to a participation rate of 100% of the increased performance of the basket with a maximum end of term profit capped at 27%, multiplied by the principal deposit amount.
The minimum deposit amount for the Amanah Premium Deposit Plus is AED 37,000 or USD 10,000. You cannot deposit any more money into your Amanah Premium Deposit Plus account once your application has been accepted. You can, however, hold more than one Amanah Premium Deposit Plusaccounts should you wish to deposit further.
Amanah Premium Deposit Plus has been approved by the HSBC Amanah Shariah Committee, an independent committee of Shariah experts of international repute.
*According to a study conducted by the United Nations Food and Agriculture Organization (FAO), Report of the 31st Session of the committee on World Food Security (Rome, 23-26 May 2005).
**According to the latest Ernst & Young Renewable Energy Country Attractiveness Index Q2 2007.
*** Forbes.com, The World's Ten Best selling Drugs 03.22.06
How does the Amanah Premium Deposit Plus Account work?
What you need to know before you apply
Term: Three-year term
Basket of stocks: Equally weighted basket comprising global companies operating in the agriculture, clean energy and healthcare industries/sectors as listed below:
| Agri-Business | Clean Energy | Healthcare |
| Deere & Co. Archer Daniels Midland Monsanto Syngenta Potash Corp Of Saskatchewan |
Kansai Electric Co. Inc. Vestas Wind Systems Gamesa Corporacion Tecnologuca Headwaters Inc. Energy Conversion Devices Inc. |
Glaxosmithkline PLC. Bayer AG. Roche Holding AG. Sanofi-aventis Merck & Co. Inc. |
Benefits: Amanah Premium Deposit Plus will pay a profit equal to a participation rate of 100% of the increased performance of the basket of shares with a maximum end of term profit capped at 27%, multiplied by the principal deposit amount.
Minimum deposit: AED 37,000 or USD 10,000
Closing date: 22nd May, 2008 or earlier if fully subscribed. Accounts are issued on a first come, first served basis. No advance notice of closure will be given.
Commencement date: 28th May, 2008
Early closure of offer: This offer may be withdrawn at any time before the closing date.
Account maturity date: Third anniversary of the commencement date. the maturity date will be 29th May, 2011 and the final payment date is 7th June, 2011. Should this date fall on a national holiday, the reading/maturity date will be taken as the next business day.
Charges: An agency fee of up to 15% of the surrendered amount will be charged only in the case of early withdrawal. However, the agent may waive part or the full amount of the agency fee at its sole discretion. In addition, the agent may also deduct such costs it may have to incur as a result of making an early payment. These charges will be deducted from the surrendered amount.
Withdrawals: If you want to withdraw your investment before the termination date, you need to write to your local HSBC Bank Middle East Limited branch. You should note that you may receive an amount less than your original deposit due to early withdrawal. Please refer to clause 3 & 4 of the Agency Letter for more information.
Principal Protection: The Amanah Premium Deposit Plus is structured to return the initial principal plus any profit, only at maturity i.e. three years, and the initial deposit amount may not be returned in full if the deposit is encashed before maturity.
