The group’s banking division, Noor Islamic Bank, will operate the outsourcing centre through a joint venture with the Indian firm Adventity.

Noor Islamic Bank will give all its business process outsourcing work to the new venture as soon as the centre is ready.

Adventity has signed up an additional 12 companies from the Middle East who will be served from the centre.

“While offering cost savings is part of the objective of this new venture, we plan to offer end-to-end outsourcing to banks and financial institutions so that these institutions can economically utilise their manpower resources for their core operations,” says Noor Islamic Bank’s chief executive Hussain al-Qemzi.