Date:22/12/2005 URL: http://www.thehindubusinessline.com/2005/12/22/stories/2005122202190600.htm

Back Kotak Mahindra (UK) to set up office at Dubai financial hub

Vimala Vasan

Abu Dhabi , Dec. 21

KOTAK Mahindra (UK) Ltd (KMUK) has been licensed by the Dubai Financial Services Authority to conduct its operations from its branch at Dubai International Financial Centre (DIFC).

It is the first Indian institution to be set up at DIFC. Making this announcement in Dubai on Tuesday, Mr Shyam Kumar, Director, KMUK, said that DIFC has created a global financial hub in Dubai.

"Kotak Mahindra has a strong commitment to be a part of this growing financial hub. We already have a presence in Dubai through Kotak Mahindra (International) Ltd for over a decade now. The opening of the KMUK branch will further strengthen our presence here."

Dr Omar Bin Sulaiman, Director-General of DIFC, commented: "It is our privilege to welcome our first Indian partner to the DIFC."

KMUK plans to offer its customers access, advisory and investment management services for the Indian capital markets. The targeted clientele includes institutions and high networth individuals.