Reliance Capital seeks ME expansion

07 Mar 2011

(MENAFN) The Chief Executive of Dubai Reliance Capital, Sam Ghosh, said that the company is seeking to increase its operations in the Middle East through its office in the Dubai International Financial Centre (DIFC), reported Gulf News.

Ghosh said that Reliance Capital, the asset management firm of India’s Anil Dhirubhai Ambani Group, is planning to raise its business investments in the Middle East up to USD1 billion over the next 3 years and up to USD2 billion over the next 5 years.

The CEO said that the company would focus on asset management and Sharia-compliant businesses since its Sharia business based in Dubai is growing and its asset management business is expected to see strong growth as well.

According to the CEO, Reliance Capital is interested in asset management and mutual funds, life and general insurance, private equity and proprietary investments, stock broking, depository services, investment banking and wealth management services.

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