The Hindu Business Line : Geojit ties up with Bank of Bahrain and Kuwait

Kochi, Sept. 20 Geojit has announced a tie-up with Bank of Bahrain and Kuwait (BBK), one of the leading banks in West Asia, to provide trained manpower and investment assistance with expertise in Indian stock market.

The agreement brings together two major players in the stock brokerage market to provide a facility for dealing in the Indian capital market in Bahrain and Kuwait.

BBK is engaged in the business of providing banking services, having a well-established investment division offering investing and brokerage services to its wide client base. Currently, the bank’s NRI customers are offered services related to investments into Indian stock market by NRI marketing teams in Bahrain and Kuwait with the support of NRI desks at BBK Hyderabad and Mumbai branches. With the new understanding, the NRI banking desk at Bahrain will be strengthened with additional staff trained by Geojit Financial Services, which will enhance the quality of service to NRIs who need expertise service in buying / selling in the Indian stock markets. The presence of such knowledgeable staff at NRI desk would add value to the customer service and improve customer reach.

Mr Abdul Karim Bucheery, Deputy General Manager of BBK, said the partnership with Geojit adds a new dimension to BBK’s strategy of becoming a leading player in the brokerage market. For our clients, being able to offer Geojit brokerage expertise is also significant. With many clients originating from the sub-continent, offering them Geojit services gives them more opportunity to diversify their holdings within the Indian booming economy, and be exposed to markets that was out of there reach, he said.

According to Mr C.J. George, Managing Director of Geojit, this new endeavour is a logical extension of Geojit’s investment services in the Gulf region after the establishment of joint venture financial services companies in the UAE and Saudi Arabia. Barjeel Geojit Securities LLC has offices in Dubai, Abu Dhabi, Sharjah and Ras Al Khaimah serving more than 30,000 NRIs. Aloula Geojit Brokerage Co in Saudi Arabia intends to open 12 branches in the Kingdom soon, he said.

With this agreement, Geojit should provide the required training in Indian stock market operations to persons deputed by BBK, besides providing the software required for trading in Indian stock market, research, trade and back office support, he added.

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