National Bank of Oman ties up with Reliance Wealth Management

The agreement was signed by NBO's General Manager (Retail, Private and Overseas Banking Group) Harsh Munjal and Reliance Securities Executive Director Vikrant Gurnani.

The alliance between NBO and RWM focuses on building 'tailor-made' investment product portfolios for NBO's private banking customers.

Reliance brings in its local expertise in managing India specific investments, while NBO brings the onshore support platform to facilitate client investments, the reports said.

NBO believes the next stage of expansion is to develop its reach beyond basic banking.

NBO's Head of Private Banking and Sadara Wealth Management Moosa Al-Jadidi said: "We are indeed delighted to join hands with Reliance Wealth Management and thereby extend the portfolio of services for our esteemed customers."

RWM is one of the businesses of Reliance Capital, which is listed on stock exchanges.

The various financial services under Reliance Capital include life insurance, general insurance, asset management, institutional and retail brokering, housing and consumer finance, investment banking and wealth management.