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IBMC Group launches QFI services to global investors
(Staff Report) / 2 September 2012
DUBAI — Indian financial and equity market experts on Saturday said that conservative estimates show that investments into Indian equities, bonds and mutual funds by foreign nationals under the new Qualified Foreign Investor (QFI) route could cross $10 billion mark in two years.
QFI, the new investment channel opened up by the Government of India, allows foreign nationals including the UAE to invest in Indian equities and debt instruments.
Launching the QFI service during a first-of-its-kind international seminar at the World Trade Centre, Dubai, in the presence of Sanjay Verma, Consul General of India, Sajith Kumar P K, CEO and director, IBMC Group & JRG International, said: “The new investment route provides direct access to the Indian equity and debt markets for foreign nationals, groups or associations, allowing a wider global investor base to partake the benefits of the Indian growth story.”
“The UAE and India share extensive trade and commercial bonds. They are also each other’s biggest trade partners. The UAE being a regional trade and investment hub is an ideal location to promote this new initiative,” Verma said, congratulating IBMC for launching the service and inaugurating the seminar.
Hazza Mohammed Al Dhaheri, chairman and managing director, IBMC Group & JRG International, said that Dubai, being the business hub of the region offered a vantage point to launch the service.
The event also marked awarding the first QFI Account to Hazza Mohammed Al Dhaheri by S. Rengarajan, CEO, IL&FS Securities Services Ltd.
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