Barjeel eyes returning Arab funds

Barjeel Securities, the joint venture of Sharjah-based Al Saud Group and India's Geojit Securities, is aiming to cash in on the return of Arab funds by offering a wide range of investment options.

"We want to attract Arab investors into Indian and some Asian markets," said Sheikh Sultan bin Saud Al Qasimi, chairman of Barjeel Securities.

Arabs have invested an estimated $1.3 trillion in the U.S. and Europe, with much of this now returning home.

"We hope the Indian markets can attract investors from here," he said, expressing hope that the Indian stock markets would open up for foreign investment soon.

Barjeel Securities formally opened its offices in Abu Dhabi after securing the Central Bank licence. It is a local and international licence but Barjeel plans to use only the international part of it. "The local equity market is yet to develop and volumes are still low," he said.

Initially, Barjeel will offer non-resident Indians a wide range of investment facilities such as depository services, Indian equities, bonds and mutual funds.

"We will soon offer equities in other Asian markets, so we will have a total investment package for NRIs," said Sheikh Sultan.