QNB group to commence activity in India late 2013

QNB Group announced that it has received all regulatory approvals to establish a fully owned subsidiary under the name of “QNB (India) Private Limited”. The group said in a press release today that QNB (India) will take the role of extending consultancy and advisory services in the field of investment and finance for the Middle East companies that are willing to establish businesses and/ or invest in India. As part of its international expansion strategy, QNB Group is seen to always seek presence and competition in leading markets. The economy of India is the tenth-largest in the world by nominal Gross Domestic Product (GDP) and the third-largest by Purchasing Power Parity (PPP). QNB India is expected to commence its operations during the 3rd quarter of 2013.