The Hindu Business Line : Reliance Money to open branch in Oman

Mumbai, March 27 Reliance Money, the financial distribution company of the Reliance Anil Dhirubhai Group plans to open a branch in the Sultanate of Oman.

The company has received approval for the same from the Capital Market Authority (CMA) Board, the regulator in Oman.

“The new branch will start operations in April and this is a part of our endeavour to reach out to the 20 million NRI and PIOs ( Persons of Indian Origin) residing in West Asia”, said Mr Sudip Bandhopadhyay, Director and CEO, Reliance Money.

The company will initially launch its broking and mutual fund distribution services and also offer portfolio management services (PMS). The portfolio management services will be offered at an entry level of a minimum of $50,000.

The company will also be offering a mobile portal that will allow users to get free real time access to market information on their phones, in addition to real-time chat facility with the company’s 35 member research team.

Reliance Money made its debut in the UAE in February.

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