20 September 2012
MUSCAT--National Bank of Oman (NBO) has launched its Portfolio Management Services in the Indian capital market.
The bank is focused on servicing the investment needs of its high net worth clients and considers this service a significant leap forward.
NBO has joined hands with Reliance Wealth Management (RWM), to provide distinct Indian investment products to its valued private banking customers.
The recent regulatory changes in India has drawn keen interest from all over the world as businesses enthusiastically look forward to the implementation of the bold reforms being launched by the Indian Government.
NBO believes that a foreign national is not cognisant of the potential of companies in the Indian market, and it is here that Reliance Wealth, with its reputable track-record, can step in to hand-hold affluent clients with personalised discretionary portfolio advice and services.
The Reliance Group -- India's leading business conglomerate, has several varied interests including Telecommunication, Power Generation, Infrastructure Development, Financial Services, Media and Entertainment. Reliance Wealth Management (RWM) is one of the businesses of the Reliance Capital.
At the launch function held at the Grand Hyatt Muscat yesterday, Harsh Munjal, NBO's General Manager -- Retail, Private and Overseas Banking Group said: "India has always been a lucrative market because of its sheer size and the enormousconsumption potential. These beneficial reforms are indeed an 'icing on the cake'which will in the long run, benefit the consumer, corporate world, as well as the investors who put their faith in India, despite the stalling reform process".
This product is initially targeted at the Non-Resident Indian market segment. However, NBO awaits clarity in regulations related to taxation, before rolling out the services to other nationalities.
Moosa al Jadidi, NBO's Head of Private Banking and Sadara Wealth Management Services added: "NBO will always remain committed to providing quality products for its esteemed clients.The unique benefit of this solution is that clients can simply sit across the table with their Portfolio Manager, and discuss the performance of the investment, different from the traditional Mutual Fund route currently used to access the Indian market.
The Bank aims to be the preferred bank for all and will continue to strive to meet the requirements of every segment of Oman".
NBO believes that having firmly established its footprint in Oman's financial services industry, with the 'Best Retail Bank in Oman'award to its credit; the next stage of expansion is to develop its reach beyond basic banking.
NBO aims to raise the standards once again and focus on offering distinguished investment products to its high net worth customers. NBO's philosophy for its Private Banking business is built around an ethical commercial practice, that is committed to high standards of service quality and delivery; offering end to end solutions to its customers.
MUSCAT--National Bank of Oman (NBO) has launched its Portfolio Management Services in the Indian capital market.
The bank is focused on servicing the investment needs of its high net worth clients and considers this service a significant leap forward.
NBO has joined hands with Reliance Wealth Management (RWM), to provide distinct Indian investment products to its valued private banking customers.
The recent regulatory changes in India has drawn keen interest from all over the world as businesses enthusiastically look forward to the implementation of the bold reforms being launched by the Indian Government.
NBO believes that a foreign national is not cognisant of the potential of companies in the Indian market, and it is here that Reliance Wealth, with its reputable track-record, can step in to hand-hold affluent clients with personalised discretionary portfolio advice and services.
The Reliance Group -- India's leading business conglomerate, has several varied interests including Telecommunication, Power Generation, Infrastructure Development, Financial Services, Media and Entertainment. Reliance Wealth Management (RWM) is one of the businesses of the Reliance Capital.
At the launch function held at the Grand Hyatt Muscat yesterday, Harsh Munjal, NBO's General Manager -- Retail, Private and Overseas Banking Group said: "India has always been a lucrative market because of its sheer size and the enormousconsumption potential. These beneficial reforms are indeed an 'icing on the cake'which will in the long run, benefit the consumer, corporate world, as well as the investors who put their faith in India, despite the stalling reform process".
This product is initially targeted at the Non-Resident Indian market segment. However, NBO awaits clarity in regulations related to taxation, before rolling out the services to other nationalities.
Moosa al Jadidi, NBO's Head of Private Banking and Sadara Wealth Management Services added: "NBO will always remain committed to providing quality products for its esteemed clients.The unique benefit of this solution is that clients can simply sit across the table with their Portfolio Manager, and discuss the performance of the investment, different from the traditional Mutual Fund route currently used to access the Indian market.
The Bank aims to be the preferred bank for all and will continue to strive to meet the requirements of every segment of Oman".
NBO believes that having firmly established its footprint in Oman's financial services industry, with the 'Best Retail Bank in Oman'award to its credit; the next stage of expansion is to develop its reach beyond basic banking.
NBO aims to raise the standards once again and focus on offering distinguished investment products to its high net worth customers. NBO's philosophy for its Private Banking business is built around an ethical commercial practice, that is committed to high standards of service quality and delivery; offering end to end solutions to its customers.
Oman Daily Observer 2012
