Oman Bank Comes Up with India-Centric Schemes

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.

Photo: Bank of Baroda ATM in Darjeeling, India (31530245103) by Monito – Money Transfer Comparison, licensed under CC BY 2.0, via Wikimedia Commons.