• Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead GrowMyMoney Invest Now master your money
Moneycontrol

Home » News » Business

Jan 13, 2017, 03.44 PM | Source: PTI

Indian banks strengthen presence at DIFC

Kotak Mahindra Bank and Federal Bank are upgrading their representative office status to offer full range of banking and professional services, DIFC said in a statement.

Like this story, share it with millions of investors on M3

Indian banks strengthen presence at DIFC

Kotak Mahindra Bank and Federal Bank are upgrading their representative office status to offer full range of banking and professional services, DIFC said in a statement.

Post Your Comments

Share Cancel

Indian banks strengthen presence at DIFC
Many Indian financial firms including Kotak Mahindra Bank are strengthening their operations at the Dubai International Financial Centre (DIFC).

Kotak Mahindra Bank and Federal Bank are upgrading their representative office status to offer full range of banking and professional services, DIFC said in a statement.

Federal Bank's enhanced operations will help it serve a fast-growing overseas client base, estimated at over 800,000, while Kotak Mahindra Bank's expansion at the DIFC is expected to help raise off-shore deposits and also offer asset products, it said.

Similarly, Axis Bank , which has seen significant business coming from the DIFC client base, is also strengthening its operations to leverage the UAE-Indian axis in the financial sector across the MEASA region.

"The move is a testimony to DIFC's status as a global financial services hub, connecting Indian business to an USD 7.8 trillion Middle East, Africa and South Asia (MEASA) region," DIFC Authority CEO Arif Amiri said.

India is the UAE's second largest trading partner.

Bilateral trade crossed the USD 59 billion mark in 2014-15.

Buy, Hold, Sell ? Hear it first on M3
Indian banks strengthen presence at DIFC

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login