ABN AMRO Bank launch Fixed Income Investment opportunities in India for Non-Resident Indians

The new financial product is designed to offer NRI's an attractive fixed investment opportunity in the face of maturing Resurgent India Bonds. The product is a one-year investment in the Indian Debt Market offering attractive yield. HDFC Mutual Fund, the 2nd largest fund house in India, is managing this plan.

With over 100 ABN AMRO clients attending the launch event held in Dubai earlier today, a number of local and regional senior management, including the Business Head for NRI, ABN AMRO, India as well as the Head of Consumer Banking, ABN AMRO, UAE and the Business Head-Investments, ABN AMRO, UAE addressed the assembled crowd.

Burhan Khan, Head of Consumer Banking, ABN AMRO, UAE remarked: "NRI Banking represents an important strategic commitment on the part of ABN AMRO to deliver a product portfolio of services for the growing global Indian population without being passed from counter to counter. Customers have the assurance of dealing with a global bank that has a broad range of facilities, expertise and understanding, tempered with expert local knowledge so that customers are never far away from their money."

The new investment products have been developed by ABN AMRO Bank in response to a number of developments that have altered the financial climate in India. Since 1998 a rapidly growing services sector has led to a growing foreign exchange reserves position, which is now in excess of USD 85 billion. Additionally the changing moods of the Indian financial regulators have resulted in their now wanting to lower interest rate arbitrage opportunities based on the strengthening of the fundamentals of the Indian economy. The maturing of Resurgent India Bonds has also brought about the need for finding an acceptable fixed investment replacement option.

Sudhanshu Garg, Business Head - Investments, ABN AMRO, UAE remarked, "Global Indians today have diverse banking and investment requirements. We in ABN AMRO Bank are constantly monitoring the market and striving to offer suitable Investment opportunities, specific to the requirements of our NRI customers in the UAE.

In 2003 we became the first bank in the UAE to launch the Classic India Fund Linked Note, a USD denominated capital protected note that is linked to the performance of actively managed funds investing in Indian equities.

"The maturing of the Resurgent India Bonds has once again brought about the need for offering an acceptable Investment Option to our customers. Here our vast range of products can help our NRI customers to choose the right products based on their Investment objectives," he concluded.

ABN AMRO, which has a significant and well-established presence in the region, pride themselves on being able to offer the customer expert support and advice. Likewise, their close analysis of the Indian debt market ensures sound advice for buying and selling stock, whilst they also track portfolios and holdings on behalf of customers to ensure sound investment opportunities. Guidance is available on where and how to take advantage of this new product, selecting the right fund according to risk profile.