Trading to be Easier for NRIs in Bahrain

Bahrain Based Non Resident Indians (NRIs)
will not need intervention of any middle man to manage their investments
in Indian markets. Thanks to the new online trading site launched
by Indian firm UTI Securities Limited and its associate company
in Bahrain, Indo-Gulf Financial Services Limited.

They shed considerable light on the benefits to be offered by
the site, which will serve as a useful source for NRIs
to oversee their portfolios. Also, the investors were guided on
the volume of stock transactions made online will soon overtake
that of those conducted through broker.

Apart from saving on time, customers will have the benefits
to trade at ease in their home, in cyber café, or office, as it
simply needs an internet connection. High returns on investments
in the last few years have seen a decent inflow of NRI
investments in stock market, says UTI Securities
vice-president and e-brokering head Rakesh Singh.

With the help of online trading that the site envisages to offer,
the consumers need not call any broker. The customer will just
require to log-in to the site and make investments.

The site offers the prospect to make investments in equity, Initial
Public Offering (IPOs) and mutual funds, Mr. Singh adds. Unlike
brokers who charge 1.25%, the site charges a flat brokerage fee
of 0.5% including transaction costs, says Mr. Singh. Bahrain can
be an upcoming market as it is on the verge to become a financial
hub for the entire Gulf Region.

The company is looking forward to draw interests from Indians
living in Bahrain. Also, there are a number of NRIs residing in
other GCC countries, who wish to make handsome investments in
stocks.

The company has several plans to pursue. However, it wants to
accomplish its target of gaining at least 500 NRI customers in
Bahrain after one year, and providing them with an insight into
the influence of online trading, reveals Mr. Singh.