Doha Bank to unveil offshore fund for NRIs in Qatar

Doha Bank will soon launch an exclusive offshore fund opening new vistas for investment for NRIs in Qatar.

Sha Fahad Bin Mohammed Bin Jabor Al Thani, chairman, said that the bank would launch the new fund in association with Tata Mutual Fund focusing mainly on non-resident Keralites (NRKs) in Qatar.

Addressing a press conference here today, he said that the fund would commence as and when regulatory formalities are completed. About 20 percent of the expatriate population in Qatar is from Kerala and hence the offshore fund mainly targets Keralites in Qatar.

R. Seetharaman, deputy CEO of the bank, said that the bank had already approached the Reserve Bank of India (RBI) seeking licence for opening a full-fledged branch in India.

"We expect to open the branch soon," he added.

Doha Bank will organise an investors' meet on November 21 in order to promote investment in India.