Mubasher: Doha Bank on Sunday announced that it has signed a memorandum of understanding (MoU) with Stock Holding Corporation of India Limited (Stock Holding), India’s premier custodian and depository participant.
Under the deal, the bank will offer all banking related services while Stock Holding will offer compliance, clearing, settlement and reporting services for all investment activities of customers, according to a filing to the Qatar Stock Exchange (QSE).
The partnership will enable customers to invest through the permitted mechanism in all permitted securities across asset classes such as mutual funds, debt, all derivatives, AIF’S and securitised assets.
The Indian company will offer all the eligible investors direct access into the IFSC Market at Gift City, Gandhinagar.
“The MOU reiterates Doha Bank’s long-term commitment to the Indian market and will enable the Bank to further expand its service offerings for its overseas customers looking to invest in India, thereby aligning with its intention to become a one-stop shop for its target customer base,” the statement said.
By 09:38 am, Doha Bank’s stood at QAR 21.93.
