Doha Bank to sell ING's mutual funds to NRIs

Dubai, Dec 28 (UNI) Qatar's leading bank, the Doha Bank, has signed an agreement with the asset management company of ING Mutual Fund for distribution of its mutual fund products to Indian expatriates in the country.

The agreement was signed yesterday in Doha by the bank's Deputy CEO R Seetharaman and ING Investment Management (India) Pvt Ltd CEO Kavita Hurry.

Under the agreement Indians working in Qatar would have access to investment facilities in the various mutual fund schemes floated by ING Mutual, Mr Seetharaman said.

It would also help meet the expatriates' varying investment objectives, both short term and long term, he added.

Ms Hurry said ING Mutual Fund is one of the fastest growing funds this fiscal with an investor-base of over 1,50,000 across the country with presence in 34 locations in India. She said it is currently managing 21 schemes with the assets worth Rs 5,000 crore under management.

Doha Bank was adjudged as 'Best Bank in the Middle East' by Banker Middle East and 'Banker of the Year 2006 - Qatar' by Banker London.

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