PENANG: CIMB Bank Bhd will introduce a new structured deposit product, which is a conventional type with minimum capital investment of RM10,000, next month.
Its consumer sales and distribution head, Sulaiman Mohd Tahir, said this would be the group’s fifth structured product.
“There is presently a shortage of such products, which guarantee the return of the principal sum.
“There are investors who do not want to lose the principal in their investments. Our structured deposits are targeted at such investors,” he said at the launch of the first CIMB Bank and CIMB Islamic branch in Penang on Friday.
World Squash champion Nicol David officiated the event.
Sulaiman said the Islamic structured deposit product, All-Stars Global Restricted Mudharabah Structured Investment-i, launched in January, generated about RM700mil in investments in just over a month.
Other CIMB structured deposit products include Star Select and All Stars Global.Sulaiman said CIMB's re-branding exercise would be completed by August. CIMB : [Stock Watch] [News] CIMB-OA : [Stock Watch] CIMB-OR : [Stock Watch]