Mar 26 2008 |
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Noor forms venture with Adventity
26 March 2008
Dubai: Noor Investment Group , the parent company of Noor Islamic bank, on Tuesday announced a joint venture with Adventity BPO India Pvt Ltd, an Indian business process outsourcing firm, to set up a business process outsourcing (BPO) facility in Dubai Outsource Zone.
The 50:50 joint venture with a seed capital of Dh50 million will focus on the booming financial services outsourcing business in the Middle East and North Africa region.
The new company will offer BPO services including transaction processing, knowledge process outsourcing and call centre management.
Knowledge base
While Noor Islamic Bank and other new ventures from the Noor Investment Group will utilise the BPO services from the new joint venture entity, Adventity already has signed up more than 12 clients in the region.
"We have the capability to offer process management in financial services sector including assets and liabilities management, card products, insurance, fund administration, customer relationship management, settlement, advisory services, research and analytics," said Kumar Subramanian, chief executive officer of Adventity.
The new venture intends to build regional knowledge base through its Dubai Outsource Zone operations.
"The whole idea behind this new project is create locally based expertise and outsourcing capabilities rather than offshoring every bit of business we generate in this region. We intend to limit offshoring only those business which have clear and long term cost advantages," said Subramanian.
Adventity, which is ranked among the top 25 best managed global outsourcing companies by the 2007 Black Book of Outsourcing said its Dubai venture would become the dedicated delivery centre for its other Middle East operations.
By Babu Das Augustine
© Gulf News 2008. All rights reserved.
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