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IBMC initiates first Global Ambassadors Meet

United Arab Emirates: Tuesday, May 07 - 2013 @ 11:54

QFI route was opened up by the Government of India last year and is estimated to bring in over $10bn investments into the Indian capital markets in the next two years.

Speaking at the meet inaugurated by H.E. Hazza Mohammed Al Dhaheri, Chairman & MD, IBMC Financial Professionals Group, Chief Guest Mr.AshishkumarChauhan, CEO, Bombay Stock Exchange (BSE), said, “QFI hold a lot of potential for Indian markets. There is keen global interest in the resilience of our economy. Traditionally driven by FIIs and NRIs, foreign capital inflows have gained significant importance and impact local market sentiments.”

He said, “QFIs would broad-base the capital flow and further deepen liquidity for Indian markets.”

“We are happy to host 1st Global Ambassadors Meet on QFI in the UAE and it is IBMC Group’s privilege to add QFI Investments along with our global expansion plans. The UAE is the world’s financial hub with foreign nationals from over 180 countries and we are committed to provide adequate service and support to the investors in the UAE,” Al Dhaheri said.

The high level Ambassadors Meet had a participation from major QFI permitted countries who were addressed by the BSE CEO, Mr. Cyrus Khambata, Executive Vice President, Central Depository Services (India) Ltd., India and Mr. AmbarishDatta, Managing Director and CEO, BSE Institute Ltd, Mr. Sajith Kumar P K, CEO & Director, IBMC Financial Professionals Group and Mr. Anoop P.S, Chief Marketing Officer, IBMC Financial Professionals Group.

“IBMC Financial Professionals Group already set centralized infrastructure in UAE to provide professional QFI service to the investors located in UAE and other GCC Countries.Our Global expansion plan with exclusive branch network covers major countries for QFI services. In the first phase we will cover GCC Countries, US, UK and Canada. Second phase will include North-African continent and rest will be covered in the third phase,” said Mr. Sajith Kumar P K, CEO & Director, IBMC Financial Professionals Group.

IBMC Knowledge Centre
IBMC and the BSE Institute Ltd also announced joining hands to open IBMC Knowledge Centre. The centre was inaugurated by Mr. AmbarishDatta, Managing Director and CEO of the BSE Institute. Thecentre will soon start offering courses in investing in stock markets to facilitate foreign nationals tap the Indian capital markets.

Residents of 52 countries are currently eligible to be Qualified Foreign Individual Investors. Under QFI foreign nationals can invest directly in the Indian Market. Earlier, only pension funds and similar entities were allowed direct access to India’s bourses. QFIs can buy up to 5% of the paid-up capital of a company, with the overall limit capped at 10% in a company.

“India needs huge foreign investment support and maintain its growth. The finance ministry has taken proactive steps to encourage investments by foreigners into Indian capital markets by simplifying procedures for invests by foreign institutions as well as individuals by introducing the QFI route for such investors,” said Mr. Cyrus Khambata, Executive Vice President, Central Depository Services (India) Ltd., India.

Commenting on the awareness level of Foreign Investors on Indian Market, Mr. Sajith, said, “We are committed to update investment knowledge of global investors and have designed practical certified courses for QFI investors which we will start very, soon from the UAE. The courses will also have Sharia’h compliant syllabus.”

He said, “IBMC Group’s Knowledge Centre will start courses directly and also through prominent Universities and other educational institutions in the UAE. QFI Investors will also get daily, weekly & monthly reports initially in English and Arabic languages.”

“We believe that the professional training that we will provide will also play a significant role in enhancing the skills of professionals in the region and making the UAE region a global gateway for equity, currency and commodity trade,” said Mr. Datta added.

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Tuesday, May 7- 2013 @ 11:54 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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