Finance Ministry roadshows in 5 Gulf countries to attract QFIs

PTI New Delhi | Updated on May 28, 2012

Aiming to attract investment from foreign retail investors in equity and bond markets, the Finance Ministry will organise roadshows in five Gulf nations, including Kuwait and the UAE next month.

“We will organise roadshows from June 10-15 in five Gulf countries – Bahrain, Oman, Kuwait, the UAE and Saudi Arabia – to attract Qualified Foreign Investors (QFI) in the securities market,” a senior Finance Ministry official said.

A QFI is an individual, group or association resident in a foreign country that is compliant with Financial Action Task Force (FATF) standards. QFIs do not include FIIs/sub-accounts.

“We are discussing many things to encourage more capital flows. We are looking at various things as to how to implement budget announcements for QFIs, FIIs,” the official added.

The official further said that the Ministry is working on measures for attracting foreign investment into corporate bonds. Also the FII limits set for investment into these instruments were almost exhausted in the last fiscal.

Published on May 28, 2012

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