BBK in tie-up with Indian broker
Manama, September 20, 2007
Bank of Bahrain and Kuwait (BBK) has announced a tie-up with top Indian stock broker Geojit Financial Services Limited.
Under the arrangement, BBK will be provided with trained manpower, and investment assistance with expertise in the Indian stock market.
The agreement also brings together two major players in the stock brokerage market for providing a facility for dealing in the Indian capital market from Bahrain and Kuwait.
Currently BBK's Non-Resident Indian (NRI) customers are offered services related to investments into Indian stock market by NRI marketing teams in Bahrain and Kuwait with the support of NRI desks at BBK's Hyderabad and Mumbai branches.
With the new understanding, the NRI banking desk at Bahrain will be strengthened with additional staff trained by Geojit, which will enhance the quality of service to NRIs who need expertise service in buying and selling in the Indian stock markets.
Geojit is listed on the National Stock Exchange and the Bombay Stock Exchange.
"The partnership with Geojit adds a new dimension to BBK's strategy of becoming a leading player in the brokerage market," BBK deputy general manager Abdul Karim Bucheery said. "This new endeavour is a logical extension of Geojit's investment services in the Gulf region after the establishment of joint venture financial services companies in the UAE and Saudi Arabia," Geojit managing director C J George said. -TradeArabia News Service