Saudi-based NRIs offered share trading opportunity

Aloula Geojit Capital Co. has launched its NRI Advisory Service to cater to the investment needs of NRI investors in Saudi Arabia. This was jointly announced in the south Indian city of Kochi by Ibrahim M. Al-Gadah, CEO of Aloula Geojit Capital, and C. J. George, managing director of Geojit BNP Paribas. AGC, a member of the Saudi Stock Exchange, through its investment advisory service will offer its NRI clients both research and investment advice. AGC says it is the only Indian joint venture which is a member of any local stock exchange in the Arabian Gulf. George, quoted by Indian newspapers, said that there had been renewed investor interest among NRIs to invest in Indian capital markets in the context of global uncertainties. According to the media report, he added: “With the launch of Aloula Geojit Capital’s advisory service, Indian nationals in the Kingdom will greatly benefit from the sound advice and efficient service it provides.” Ibrahim Al-Gadah said the service will be made available through Riyadh, Dammam and Jeddah offices of Aloula Geojit. Indians with valid residence permits in the Kingdom can also open an account through AGC and invest and trade in the Saudi market. In addition, they can subscribe to local mutual funds. Established in 2006, AGC is a joint stock company licensed by Saudi Capital Market Authority to conduct trading activities as a member broker in Tadawul. AGC‘s activities in the Kingdom include investment banking, portfolio management service, asset management including real estate MFs, investment advisory services, research and securities custody services. Source: ArabNews