Oman Bank launches scheme for investment in India economy

Oman Bank launches scheme for investment in India economy
PTI
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First Published: Thu, Jan 24 2008. 03 46 PM IST
Updated: Thu, Jan 24 2008. 03 46 PM IST
Dubai: Oman Arab Bank has launched an India-centric wealth management product and services scheme that will provide an opportunity to potential investors in the country to invest in the booming Indian economy.
Under the scheme, India Access, Oman Arab Bank-Investment Management Group has tied up with Kotak Securities Ltd for providing financial products and services to potential investors in Oman including NRIs, Omanis, other nationals, corporate and non-corporate bodies.
The scheme was formally launched by Abdul Kader Askalan, CEO of Oman Arab Bank and S.A. Narayan, managing director of Kotak Securities Ltd. Anil Wadhwa, Indian Ambassador to Oman, was also present on the occasion.
The bank and Kotak Securities Ltd will offer a wide array of financial products investing in India through Indian rupee and US dollar routes including diversified large cap, mid-cap, thematic equity funds, long and short term debt funds and money market products.
“The response to the alliance has been over whelming. With India, the second fastest growing economy in the world, set to grow at 8.5 to 9% in the next three to five years, we expect the India Access brand to do well,” Somer Massey, director, Kotak Mahindra International Ltd said.
Kotak Securities Ltd along with OAB also plans to unveil real estate, infrastructure and other Indian and international products to the wide investor base in Oman.
Qualified and trained financial professionals based at Investment Management Group of OAB will cater to the wealth management needs of the potential investors in Oman. The bank is also entering into an arrangement with Kotak Mahindra Bank Ltd, India to offer easy and efficient fund transfer facilities to India.
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First Published: Thu, Jan 24 2008. 03 46 PM IST