Special Correspondent

NEW DELHI: Anil Dhirubhai Ambani-owned Reliance Money on Thursday announced its debut in Saudi Arabia launching a new company — Riyada Reliance Money (RRM) — in collaboration with Bahrain-based Riyada Consulting, a leading management consultancy and advisory company in the region. With this, Reliance Money becomes the first Indian corporate to start operations and offer financial services in Saudi Arabia termed as the largest financial market in the Gulf and also having the largest population of NRIs (non-resident Indians).

Announcing this here, Reliance Money CEO, Sudip Bandyopadhyay, and President of Riyada Consulting, Shaikha Dheya Bint Ebrahim Al Khalifa, said this new venture would launch a range of brand new set of services in Saudi Arabia offering a cost-effective and efficient platform to transact in financial instruments to investors. This partnership would also utilise the expertise of Reliance Money.