Monday, March 24, 2008

India on Kuwait Finance House's Radar

In this Bloomberg interview, CEO & GM of Kuwait Finance House Mr. Mohammed Sulaiman Al-Omar spoke about his plans for expansion into GCC & India-China markets. "We have to be there, whether or not they have the legal infrastructure and environment for Islamic banking. "
"India is going through major economic changes. The purchasing power of the middle income has increased. They have a lot of demand for real estate, hotels and services, industrial parks, office buildings. They have heavy, light-to- medium industries. All of it comes into one basket and it is a very good market. We can do investment activities for our accounts, for our clients in terms of funds and that could be in direct investment or real estate".

As has often been commented, he added "GCC countries have a good sizeable income after oil prices rose to more than $100. That has created good liquidity in the market. GCC countries have tremendous inflows.''

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