The Strategic Alignment is designed to Generate Business Opportunities in the GCC and India
Doha Bank and Reliance ADA Group have entered yesterday into an alliance to create new opportunities for cooperation and innovation in terms of business development across the GCC and India. The MOU is envisaged to provide tangible business opportunities and further prospects for expansion for Doha Bank and Mr. Anil Ambani led Reliance Group. It will also provide synergy in product development and congruence in mutual infrastructure support.
Doha Bank which enjoys brand excellence, a vast network of branches and representative offices across the world and multi-pronged initiatives; offers a wide range of banking services related to Retail, Corporate, Treasury and Investments. Doha Bank’s large growing customer base and its business integration model sets the grounds for a perfectly fitted partnership with one of India’s most diversified business houses, having a robust presence in Financial Services, Telecom, Infrastructure, Entertainment, Power, Health Care, and Defense industries.
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. This agreement will open new horizons for business reciprocity in Financial Services.
The agreement which has been formalized yesterday at the Sheraton Doha Hotel was signed by Mr. Anil D. Ambani, Chairman, Reliance Group and Doha Bank Group CEO Dr. R. Seetharaman in the gracious presence of Mr. Sanjiv Arora, Ambassador of India to Qatar. The exclusive assembly has been attended by the most renowned and influential business leaders and investors in Qatar at which the Qatar Airways Group CEO Akbar Al Baker was the guest of honour. Also the event was attended by a delegation of eminent businessmen from India.
Mr. Anil D. Ambani the Chairman of 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 customized solutions and investment products to Doha Bank customers.”
On the occasion, Doha Bank Group CEO Dr. R. Seetharaman has accentuated in a press conference the scope of the collaboration and 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. It is worthwhile mentioning that all the activities under the partnership will be strictly compliant with the laws and regulations in India and the GCC. Reliance Group and Doha Bank partnership further proves that there is so much to look forward to between India and GCC.