al khaliji

Doha, 3 November, 2009: al khaliji is delighted to announce that its recently launched capital guaranteed gold deposit has been over-subscribed. Customer response to the first in a planned series of unique, guaranteed deposit products, has exceeded all expectations.

Offering a guaranteed return of 4% plus 100% of the original capital deposit with a further 9% return according to the performance of Gold, to which the product is linked, al khaliji new Gold Deposit account has set an entirely new standard for capital security and value in Qatar.

Andrew Ball, Acting Head of Consumer Banking commented, "our aim was to produce a risk free, high value product with no strings attached. We wanted to offer a product which would appeal to the fundamental needs of all investor – safety of capital coupled with a highly competitive rate of return and no fees. We are therefore extremely pleased at the high level of demand from our customers, vindicating the premise on which we aim to design all al khaliji products."

He added, "we believe that this product typifies al khaliji promise of next generation banking. We’re determined to provide our customers with exactly what they hope to receive from a bank – but so rarely encounter."

The good news is that al khaliji is already preparing the next product in this series which will offer equally attractive returns coupled with the same capital guarantee and no fees. This product is expected to be offered in the market in the early part of November.