UAE finance group in JV with Indian BPO
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Dubai: The United Arab Emirates-based Noor Investment Group (NIG) has entered into a joint venture with India's leading business process outsourcing (BPO) company Adventity to provide services like transaction processing, knowledge process outsourcing and call centre management. "Noor Investment Group has been working with Adventity the last few months in a consulting and BPO capacity," NIG chief executive Hussain Al Qemzi said in a statement here. "Based on our experience to date, we believe that there exists an opportunity to build a world-class BPO company to service blue-chip companies across the MENA (Middle East and North Africa) region. This view is shared by Adventity and its board of directors, who view MENA as their primary growth market over the next several years," he said. Headquartered in Dubai, NIG focuses purely on Islamic financial activities and aims to be the world's leading Islamic financial institution. According to the company website, it offers state-of-the-art solutions that meet the current market needs of its consumers, stakeholders and partners while strictly abiding by the principles of Sharia. The Thane-based Adventity has a vertical business-to-technology focus across banking and financial services and the airline and travel industry. "Our partnership with Noor Investment Group further strengthens our strong position in the Middle East North Africa region," Adventity chief executive Kumar Subramaniam said in a statement. "This region has been of prime importance to Adventity and our new relationship offers us an ideal opportunity to further our investments in the Middle East and bring significant value and solutions to our customers globally." The joint venture will primarily offer its services in the six Gulf Cooperation Council countries, MENA as well as Pakistan, according to an NIG statement. Through the joint venture, NIG plans to leverage on Adventity's expertise in process management in the financial services sector including assets and liabilities, card products, insurance, fund administration, customer relationship management, settlement and reconciliation, advisory services and analytics. This is Adventity's first major investment in Dubai and will involve the establishment of a dedicated delivery centre in the region. The joint venture will also offer clients the ability to leverage Adventity's recruiting and training pool in India, the statement said.
Source: IANS
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