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Oman Bank Comes Up with India-Centric Schemes
Thursday, January 24, 2008

Oman Arab Bank has come up with a wealth management product and services scheme that will give an opportunity to potential and upcoming investors in the country to invest in the booming Indian economy.

Under the India-centric scheme, India Access, Oman Arab Bank-Investment Management Group has joined hands 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.

Abdul Kader Askalan, CEO of Oman Arab Bank and S A Narayan, managing director of Kotak Securities Ltd, India made the formal launch of the scheme. Anil Wadhwa, Indian Ambassador to Oman, was also present on the occasion.

The bank along with Kotak Securities Ltd will provide a variety 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.

Speaking on the same, Somer Massey, director, Kotak Mahindra International Ltd said that the response to the alliance has been over whelming. He also added "with India, the second fastest growing economy in the world, set to grow at 8.5 to 9 per cent in the next 3 to 5 years, we expect the India Access brand to do well,"

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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