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Kotak Mahindra Bank opens 1st overseas branch in Dubai

India's Kotak Mahindra Bank Ltd. opened its first overseas branch in Dubai.

The new branch at the Dubai International Financial Centre will be regulated by the Dubai Financial Services Authority.

The Indian lender secured a category 1 branch licence, allowing it to accept offshore deposits from clients outside the United Arab Emirates, offer offshore credit and investment advisory services, arrange deals in investments and custody, deal in investments as a principal, act as an insurance intermediary and offer other financial products.