ICICI Securities forays into Oman

November 5th, 2008 - 5:52 pm ICT by IANS  

Dubai, Nov 5 (IANS) Leading Indian financial services firm ICICI Securities has forayed into Oman offering a range of financial services to the large Indian diaspora in that Gulf nation.The new branch was opened at Ruwi locality in Oman’s capital Muscat by executive president of Oman’s Capital Market Authority (CMA) Yahya Bin Said Bin Abdullah Al Jabri, India’s Ambassador to Oman Anil Wadhwa, and ICICI Securities executive director Anup Bagchi.

The first Indian financial services firm to be given a licence by the CMA to operate in Oman, it will offer its services through its online platform ICICI Direct, which had recently introduced its futures and options trading facility to overseas Indians.

Oman is home to around 550,000 expatriate Indians.

“Our investment advisory services are not just aimed at more than 500,000 Indians in Oman but also at the other residents of Oman,” Bagchi said.

“We are committed in offering end-to-end investment solutions to our customers and it is our endeavour to offer a suite of multi-channel, innovative and convenient products catering to different customer requirements,” he added.

“The opening of the Oman branch of ICICI Securities will benefit the large Indian community in the Sultanate,” Al Jabri said.

“And it will further raise the standards within our securities market as ICICI is one the leading groups in India.”

Stating that given the current global financial crisis, safe investment has assumed prime importance, Ambassador Wadhwa hoped that ICICI Securities would deliver that.

“NRIs will immensely benefit from the new facility as ICICI has a gamut of investment opportunities”, Wadhwa said.

With 1,130 offices in 450 cities in India, ICICI Direct also has 1.7 million overseas Indian customers in 100 countries.

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