| This would be the company's first initiative to offer financial services products outside India. |
| "We feel that the investors in West Asia have not been offered cost-effective, quality financial products. This move will enable the large NRI population to participate in the India growth story. We plan to tap over 1 lakh customers in the first year itself," said Sudip Bandyopadhyay, director & CEO of Reliance Money. |
| It would initially launch its broking and mutual fund services through this tie-up. It would also be offering a mobile portal that will allow the users to get free real-time access to market information on their phones. And a real-time chat facility to get quality market research and guidance to take an informed decision. |
| The financial service and product distribution arm of ADAG is also looking at tapping all the Gulf regions through the partnership. |
| "We are looking at having presence in all the Gulf and African markets in the next 6-12 months and we believe in working with partners," Bandyopadhyay said. |
| He, however, refused to share the revenue sharing arrangement between both the parties. The brokerage house, which had started its services in India in April, had triggered competition among other players by introducing the flat fee structure and plans to replicate the same model in the West Asia. |
| It also launched its portfolio management scheme (PMS) today in West Asia, where investors could manage their funds through a group of expert advisers.The starting ticket size is $50,000 per investor. |
| "We would like to provide our cost effective PMS to a larger section of society," he added. |
| (This correspondents visit to Dubai was sponsored by Reliance Money.) |
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