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FinancialNews
06-01-19
Doha Bank inks cooperation deal with India
(MENAFN) Doha Bank and Stock Holding Corporation of India Ltd (StockHolding) secured a memorandum of understanding on cooperation.
Based on the MoU, the Qatari bank is set to provide StockHolding with its banking services in exchange of compliance, clearing, settlement and reporting services for customers investments.
Customers, under the agreement, are allowed to make investments via authorized mechanism in each accessible securities across asset classes.
"The tie-up with StockHolding will enable Doha Bank to offer seamless and integrated investment solutions in India to its customers outside India looking for opportunities to invest in the Indian debt and capital markets through the Portfolio Investment Scheme (PIS), Foreign Portfolio Investor (FPI) or Foreign Direct Investment (FDI) routes," stated Doha Bank CEO Dr. R Seetharaman.
"The MoU will primarily target Financial Institutions, Venture capital funds, Pension funds, Private Equity funds, Hedge Funds, Family Offices and High Networth Individuals (both NRIs and other foreign nationals) based outside India and planning to invest in the Indian market," the CEO added.
MENAFN0601201900450000ID1097931498
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