Sharekhan to commence advisory operations from Dubai International Financial CentrePress Release 14 Sep 2011 06:02 am
Dubai, Mumbai, 14th Sep, 2011: Sharekhan Investment Services Ltd, a subsidiary of Sharekhan Ltd., India’s leading retail stock brokerage houses with a strong online trading platform, has received a license from the Dubai Financial Services Authority (DFSA) to operate in the Dubai International Financial Centre (DIFC). This license re-affirms Sharekhan’s commitment to grow its Middle East operations. They have also attained a retail endorsement which permits them to offer services to Retail clients.
As per the license, Sharekhan Investment Services Ltd will be able to arrange credit or deals in investments; advise on financial products and credit; and arrange custody from its DIFC-based office.
Welcoming the new entrant to the Centre, Abdulla Mohammed Al Awar, CEO, DIFC Authority said, “Sharekhan’s decision to use the DIFC as a platform to service its regional clients, is a further testament of the Centre’s position as the preferred destination for global players seeking to build their business in the Middle East. We welcome them to our growing multi-national community.”
Tarun Shah, CEO, Sharekhan Ltd commented, “Middle East region has always been an attractive market due to its dynamic business environment. With a license to operate in this region, we have expanded our international presence. The entry into this market has helped us accelerate and tap the vast business potential present in the region.”
Commenting on the newly formed office in the DIFC, Ananda Kumar N, Senior Executive Officer, Sharekhan Investment Services Ltd said, “We are extremely pleased to begin operations in Dubai. This demonstrates our commitment to further strengthen our international presence. The key focus for us will be to provide customized products and services to our esteemed customers.”