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Omani Bank Ties Up With Kotak for "India Access"

Oman Arab Bank's Investment Management Group has launched an India-centric wealth management product and services scheme under the brand name India Access. OAB has tied up with India's Kotak Securities to offer financial products and services to Oman-based investors including non-resident Indians, Omanis, other nationals, corporate and non-corporate bodies. India Access will provide a wide array of financial products investing in India through Indian rupee and US dollar routes including diversified large cap, mid-cap, thematic equity funds, long- and short term debt funds and money market products. Real estate, infrastructure and other Indian and international products are planned for introduction to the wide investor base in Oman at a later date. OAB is also entering into an arrangement with Kotak Mahindra Bank, India to offer easy and efficient fund transfer facilities to India. OAB's Investment Management Group was established in 1998. It currently has around $400 million assets under management and has managed issues worth $300 million including IPOs, right issues and private placements. Kotak Mahindra Group is one of the largest financial conglomerates in Indian, managing assets worth $9.5 billion and serving 3.2 million customers worldwide. It is present in New York, London, Dubai, Mauritius, Singapore and 340 locations in India.