Banking and funding wants of prosperous non-public shoppers and household companies have modified over a time frame, significantly within the final 20 years. Globalisation and expertise are the 2 essential catalysts of this transformation. The UAE being at a pivotal place has taken the centre-stage, not solely in offering a conducive enterprise surroundings but additionally secure and premier existence. Importantly, UAE as a vacation spot is chosen by HNIs from the world over, making it multi-cultural and multi-ethnic.
Indians, however, have an uncanny knack for being current throughout places on the planet and UAE being a subsequent door neighbour has attracted many Indian professionals: salaried and entrepreneurs. ICICI Financial institution Restricted, being the oldest and one of many largest non-public sector Indian banks has envisaged this transformation and together with different world locations, established its base in UAE virtually 20 years in the past. Since then, it has served the India funding and banking wants of NRIs and PIOs in UAE. Being an Indian financial institution, its focus has largely been on Indian merchandise, choices and providers.
From UAE, it caters to particular person non-public banking and company shoppers by providing them Indian rupees and greenback financial institution deposits, inbound & outbound remittances, Indian mutual funds in INR and greenback share lessons, bonds of Indian firms issued in greenback and INR, and a platform which permits shoppers to commerce in Indian inventory markets. It additionally gives mortgage towards deposits, as a liquidity choice to its shoppers. Protecting in thoughts the long run wealth creation, it gives area of interest but regulated options like PMS and AIF, investing in finest class listed firms in India. As well as, it additionally gives non-interest bearing VirtU accounts to NRIs in India.
In addition to people, it additionally caters to the company banking wants of Indian firms primarily based in UAE like , commerce services, remittances, treasury, different cross-border services and therefore gives a 360 diploma answer to the shoppers throughout their particular person, household and company wants. “With a unified goal of serving the Indian diaspora on their India funding and banking wants, ICICI Financial institution has made its presence in UAE, Bahrain, African subcontinent, UK and Europe, North America and all-important locations within the South Asian belt, leaving a real mark of globalisation,” says Vikash Sharma – Regional Head, Center East & Africa for ICICI Financial institution Restricted.
ICICI Financial institution Restricted (“ICICI Financial institution”) is an organization included in India and controlled by the Reserve Financial institution of India with its company head workplace in Mumbai, India. The DIFC department of ICICI Financial institution Restricted (“ICICI DIFC”) is a duly licensed Class 1 Licensed Agency and controlled by the Dubai Monetary Companies Authority (“DFSA”). ICICI DIFC is allowed to solely cope with ‘Skilled Shoppers’ (as outlined within the DFSA rule e book through part COB 2.3.3).