GIS to buy 20% stake in Parsoli

Dubai, July 9 (UNI) An Oman-based brokerage company, Gulf Investment Services (GIS) Company announced plans to acquire a 20 per cent stake in India's Parsoli Corporation.

The board of directors of GIS endorsed the plan to pick a 20 per cent stake in Parsoli, listed on the Bombay and Ahmedabad Stock Exchanges.

GIS's proposed investment is expected to expand its financial services business in the Gulf and south Asia.

Parsoli, a non-banking finance company approved by the Reserve Bank of India, provides retail financialn services to Muslims who want to invest in Shairah-compliant products.

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