Sets-up its first facility in Sultanate of Oman. Proposes to cater to the large NRI Diaspora through icicidirect.com. Branch will offer ICICI Group Global Private Clients services.
Muscat, Oman, November 6, 2008 (PRESSbooth.ORG) -- ICICI Securities Ltd, one of India’s largest financial services firm, announced the inauguration of its branch in Muscat, the capital of Sultanate of Oman. H.E. Yahya Bin Said Bin Abdullah Al-Jabri, Executive President CMA and H.E. Anil Wadhwa, the Indian Ambassador to Oman along with Mr Anup Bagchi, Executive Director, ICICI Securities Ltd inaugurated the new facility.
Mr Anupam Guha has been appointed as the Country Head of its operations in Oman.
ICICI Securities has received a license from the Capital Market Authority (CMA) to undertake business activities under the license of “investment advice” in Sultanate of Oman. ICICI Securities is the first Indian financial services firm to set up a branch in Oman under the license given by CMA. ICICI Securities plans to offer several investment opportunities to the residents of Oman.
Mr. Anup Bagchi, Executive Director - ICICI Securities Ltd said at the inauguration, "I am extremely delighted to open a world-class investment facility to the residents of Oman. Our investment advisory services is not just aimed at the more than 5,00,000 Indians in Oman but also at the other residents of Oman. We are committed in offering end-to-end investment solutions to our customers and it is our endeavour to offer a suite of multi-channel, innovative and convenient products catering to different customer requirements."
ICICI Securities intends to cater to the large NRI Diaspora based in Oman through its online trading platform - ICICIdirect.com. The branch will also cater to their other investment and financial requirements. ICICIdirect.com recently launched its online Futures and Options (F&O) trading facility for Non Resident Indians. ICICIdirect.com has NRI customers in more than 100 countries. It has 1.7 million customers.
The Branch will offer ICICI Group Global Private Clients services, an exclusive offering that brings a host of services, privileges and lifestyle benefits to HNI NRIs, PIOs, HNI Omani residents and family offices. The services will offer a gamut of investment opportunities comprising of global mutual funds, collective investment schemes, hedge funds, private equity funds, structured products, alternate investments to name a few.
ICICIdirect has over 1130 (351 own offices and more than 780 franchisee) offices, covering over 450 cities in India and an employee strength of ~3000 people.
ICICI Securities Ltd is a group company of ICICI Bank and the largest equity house in India providing end-to-end solutions through the largest non-banking distribution channel so as to fulfil all the diverse needs of retail and corporate customers, having dominant positioning in its core segments of its operations including Equity Capital Markets Advisory Services, Institutional Equities, Retail and Financial Product Distribution.
ICICI Securities has several awards to its credit. Recently, I-Sec won its fourth Outlook-Money award for best e-brokerage house in India for 2008. I-Sec was awarded the Best Investment Bank from India, 2008 by Global Finance Magazine.
ICICI Group Global Private Clients has been awarded Outstanding Regional Private Bank – Asia Pacific at the 17th Private Banker International Wealth Management Summit 2007, among Banks in 24 countries across the Asia Pacific, the GCC region and Central Asia.
Disclaimer:
The Company is proposing, subject to receipt of requisite approvals, market conditions and other considerations, a public issue of its equity shares and to file a Draft Red Herring Prospectus with SEBI.
Contact:
ICICI Securities Ltd,
Swapna Bhandarkar,
+91-22-66377190
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