Khaleej Times NRI Money and Property Show opens

MUMBAI - Several leading banks catering to NRIs, a global money transfer giant, and a developer of up-market properties are participating in the three-day, fourth Khaleej Times NRI Money and Property Show 2004, which opens today at the Hotel Sheraton (Creek), Dubai.

By From Our Correspondent

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Published: Thu 17 Jun 2004, 10:08 AM

Last updated: Thu 2 Apr 2015, 12:07 PM

State Bank of India (SBI), India's largest commercial bank, and Western Union, the leading international money transfer firm, are the main patrons of the show. The event is being held a few days before the summer holidays begin, when thousands of NRIs head home for vacations in India.

It is also a time when many of them make important investment-related decisions . The boutique show, the fourth edition so far, is being held to cater to their investment requirements, and provide them various options.

Besides offering NRE and FCNRB deposits, SBI offers loan facilities to NRIs against their deposits at attractive rates. It also offers home loans to NRIs. The bank - which has 54 offices in 28 countries, besides 9,038 domestic branches - also offers Internet banking for NRIs.

"With its wide network of branches in India and abroad, SBI is the bank preferred most by NRIs over the years, bringing them closer to near and dear ones in India," the bank said in a statement.

Western Union has been serving the vast expatriate market in the Middle East for the past seven years. It has a presence across 200 locations in the UAE, and operates through the branches of Al Ansari Exchange, UAE Exchange, Wall Street Exchange, Mashreqbank, Emirates Post, National Exchange Company, and Al Razooki Exchange.

Western Union has recently added 'free home delivery to its services. It has agreements with India Post, Punjab National Bank, and Lord Krishna Bank among others. The transfer fee is Dh35 to send up to Dh8,500 anywhere in India, and the receiver does not have to pay any fees.

Other banks that are participating in the show include HDFC Bank, Standard Chartered Bank, ICICI Bank and ABN AMRO Bank. Omaxe Construction Ltd, Delhi, is promoting its new project, The Forest, coming up on 300 acres of land in Noida, at the show. The project comprises 105 luxury apartments with state-of-the-art facilities.

The event is sponsored by Khaleej Times and HUM FM and is organised by Mediascope Publicitas.

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