 AfrAsia Bank obtained its FII licence from Securities and Exchange Board of India (SEBI) in Nov 2009. AfrAsia is the first regional bank, headquartered in Mauritius to obtain a FII licence. This offers the possibility to introduce sub-accounts under the Bank's FII licence and AfrAsia Bank can act as a one-stop shop for investors established outside India and who intend to invest in the Indian capital market.
India Investment Outlook
- Positive Outlook
- In spite of the Global Crisis, stable 6-7% an-nual growth
- Rising foreign exchange reserves
- A booming Capital Market, Foreign Institu-tional Investor (FII) net buyers
- During 2009, FIIs have already invested a record US$15 billion in the equities market. And, this FII investment in Indian Rupee terms is the highest in a year
AfrAsia Bank Limited
- The Bank obtained its FII license from Securities & Exchange Board of India (SEBI) in Oct 2009
- First Regional Bank headquarted in Mauritius to obtain FII license
- Possibility to introduce Sub Accounts under AfrAsia Bank FII License
Why a Sub-Account?
- Easier Registration with SEBI
- Lower Registration fees compared to FII
- Simpler documentation (only one form sub-mitted to SEBI for approval)
- Regulatory compliance rests with AfrAsia Bank as the FII
- Direct ownership of stocks and corporate benefits
AfrAsia—a one-stop shop
- Banking services including funds transfer between bank and custody account
- Treasury capabilities offering competitive FX rates (USD/other currencies into INR)
- AfrAsia Bank can facilitate introduction to major Indian custodian - close partnership with the largest private bank in India
- Recommendation to brokers in India
- Single point of contact through a dedicated Relationship Manager
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