Abu Dhabi-based Noor Capital, an investment management company based in the UAE, yesterday signed a memorandum of understanding with Indian brokerage firm KR Choksey Shares and Securities to set up a joint venture business in the UAE.
The joint venture will bring the research-based brokerage and investment products of the Indian stock market to non-resident Indians (NRIs) and other individual and institutional investors, said a Noor Capital spokesman.
The arrangement will enable Noor Capital to provide advisory and execution services to all categories of investors in the UAE and offer multi products such as equity, derivatives, mutual funds, and portfolio management services, depository services, IPOs and select debt offerings from the Indian market.
Investors will be helped with the strong technological platform created by Noor Capital, integrated with K R Choksey's online trading platform and efficient customer support in the UAE and other locations in the Gulf.
"This joint venture would enable a variety of investors to get the highest quality of advisory and brokerage services for Indian markets and to participate in its economic growth," said Lancelot D'Cunha, the Director of Choksey Shares and Securities at the signing ceremony in Abu Dhabi.
© Emirates Today 2006
