Bigger India
Singapore Private Banks Target Non-Resident Indians In Middle East Expansion
The International Migration Report 2017 published by the United Nations says that India has the largest diaspora population in the world, with 16.6 million Indians living outside the country of their birth.
Private banks based in Singapore are aggressively expanding their wealth management operations in the Middle East as they aim to capture more clients in a relatively new market for Asian banks. What is of special interest to them is the significant Non-Resident Indian (NRI) segment of that market.