“The MOU is envisaged to provide tangible business opportunities and further prospects for expansion for Doha Bank and Anil Ambani led Reliance Group. It will also provide synergy in product development and congruence in mutual infrastructure support,” Doha Bank said in an official statement.
The relationship-based model has been designed with a revolutionary approach between Doha Bank and Reliance Group which has been engaged in pivotal roles in the ongoing economic transformation of India.
Anil Ambani, Chairman, Reliance Group said, “We are glad to enter into this partnership which will further reinforce the economic interaction between GCC and India. Reliance Capital will look forward to offering customised solutions and investment products to Doha Bank customers.”
Doha Bank Group CEO Dr. R. Seetharaman said, “The arrangement will include financial services initiatives with Reliance Capital in the areas such as asset management, life and general insurance and distribution of financial services.”
The scope of the partnership will strengthen Doha Bank’s presence in India and the bank’s strategic role in trade finance, banking and financial services across the region and in creating business opportunities between GCC and India.