Doha Bank and Centrum Group Sign MoU to Expand Footprints in India and Gulf

Doha Bank, the largest private commercial bank in Qatar, promoted by its royal family, has signed a Memorandum of Understanding (MoU) with Indian financial services firm Centrum Group to scale up each other's operations in banking, wealth management and foreign exchange in India and the GCC countries.

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The strategic tie-up would allow the Indian company to Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term Doha Bank 's network to expand its presence in the Gulf Cooperation Council (GCC) countries, while paving the way for the Middle East entity to increase its footprint in India.

Launched in 1995, the Bombay-based financial firm has over 100 outlets spanning 48 cities across India and more than one million retail customers with a strong presence in Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term, wealth management, equity capital markets, institutional broking and investment banking services.

Jaspal Bindra, Chairman of Centrum Group, commented on the news: “The alliance with Doha Bank will enable us to offer our services to international corporate clients as well as non-resident Indians (NRIs) based in GCC countries. Doha Bank can leverage our extensive high networth Indians and corporate client base to expand their operations here.”

“We believe this partnership will enable us to introduce our prolific bouquet of products in India and, at the same time, give our GCC clients the opportunity of investing in Indian markets and being a part of the India growth story,” added Seetharaman, Group CEO of Doha Bank in an accompanying statement.