Yahya bin Said al Jabri, Executive President of CMA,
Anil Wadhwa, Indian Ambassador, and Anup Bagchi,
Executive Director, at the inauguration of the ICICI
Securities’ first branch in Oman.

By A Staff Reporter
MUSCAT — ICICI Securities Ltd, one of India’s largest financial services firm yesterday inaugurated its first branch in the Sultanate. Yahya bin Said al Jabri, Executive President of CMA and Anil Wadhwa, the Indian Ambassador to Oman along with Anup Bagchi, Executive Director, ICICI Securities Ltd inaugurated the new facility. Anupam Guha has been appointed as the Country Head of its operations in Oman. ICICI Securities is the first Indian financial services firm to set up a branch in Oman under the licence given by CMA (Capital Market Authority). ICICI Securities plans to offer several investment opportunities to the residents of Oman.

CMA chief Yahya bin Said al Jabri said that it was the result of a long-felt need of an Indian financial institution for the Indian community as well as the Omani nationals. ICICI Securities intends to cater to the large NRI diaspora based in Oman through its online trading platform — ICICIdirect.com. The branch will also cater to their other investment and financial requirements. ICICIdirect.com recently launched its online Futures and Options (F&O) trading facility for Non-Resident Indians and has 1.7 million NRI customers in more than 100 countries.

Anil Wadhwa said at the inauguration, “Safe investment is of prime importance in today’s context. And we can hope that ICICI just delivers that”. The branch will offer ICICI Group Global Private Clients services, an exclusive offering that brings a host of services, privileges and lifestyle benefits. The services will offer an array of investment opportunities comprising of global mutual funds, collective investment schemes, hedge funds, private equity funds, structured products and alternate investments.

Anup Bagchi, Executive Director — ICICI Securities Ltd said: “Our investment advisory services are not just aimed at more than 5, 00,000 Indians in Oman but also at the other residents of Oman. We are committed in offering end-to-end investment solutions to our customers and it is our endeavour to offer a suite of multi-channel, innovative and convenient products catering to different customer requirements.”

ICICI Securities Ltd is a group company of ICICI Bank and the largest equity house in India providing end-to-end solutions through the largest non-banking distribution channel to carry out all the diverse needs of retail and corporate customers, having leading position in its core segments of its operations including Equity Capital Markets Advisory Services, Institutional Equities, Retail and Financial Product Distribution. ICICIdirect has over 1130 (351 own offices and more than 780 franchisee) offices, covering over 450 cities. ICICI Securities — I-Sec has recently won its fourth Outlook-Money award for best e-brokerage house in India for 2008. It was awarded the Best Investment Bank from India, 2008 by Global Finance Magazine.