Dubai: Anil Ambani Group's financial service and product distribution arm Reliance Money, which launched its broking and portfolio management services today in the UAE, is planning to enter into partnerships in other gulf countries as well, including Bahrain, Oman and Qatar.

"We are definitely looking at other gulf countries like Bahrain, Oman and Qatar to offer our services through partnerships with local players in the next 6-12 months," Reliance Money Director and CEO Sudip Bandyopadhyay said.

The company on Tuesday announced its tie-up with Dubai International Securities, LLC, a part of the Al Rostamani Group for distribution of its financial products and services to Non-Resident Indians (NRIs) and Indians living in the UAE.

Through the tie-up, Reliance Money would launch its broking and mutual fund services initially. The company, in a first-of-its-kind initiative in Middle-East would also offer a mobile portal that would allow the users to get free real-time access to market information on their phones.

Reliance Money would also offer a real-time chat facility with its experts to get high quality market research and guidance to take an informed decision.

The company is looking to tap the population of 20 million NRIs and Indians residing in the Middle East. The 20 million population of NRIs and Indians residing abroad include the entire gulf region and the African market as well. This, however, excludes the US and Europe, Bandyopadhyay said.

Source : PTI