BBK GEOGIT JV IN KUWAIT

BBK Geojit Securities KSC, a Joint Venture between Bank of Bahrain and Kuwait (BBK) and Geojit BNP Paribas would soon launch its operations in Kuwait. It will be the first company in Kuwait to offer NRIs access to Indian Capital markets, BBK Chief Executive Abdulkarim Bucheery and Managing Director of Geojit BNP Paribas C J George told a joint press meet here last night. JZ Associates, Kuwait, is also part of the JV, which has received licence from Kuwait's Ministry of Commerce and Industry (MCCI). The JV will offer NRIs a wide range of services, including equity trading, mutual fund advisory, real estate advisory and PAN card processing facilities. BBK Geojit security will also offer its services to Qualified Foreign Investors (QFI) as and when regulatory approval is received. This is the second such partnership involving BBK, one of the largest banks in the Gulf region and Geojit. Earlier, the entity had offered similar facilities in Bahrain. Bucheery said BBK had always nurtured its NRI customer base and valued the long standing partnership between the Gulf states and India.