Only to be reminded that the solution is right there

Gulf News 12th December, 2009

Only to be reminded that the solution is right there

In calamitous times of their lives, many clients come looking for more harmful solutions. They forget that the right remedy is not too far away.

K.V. Shamsudheen, director of Barjeel Geojit Securities, fondly recollects an incident with one of his clients back home in India. One day, the client, who was in his 50s, came to him asking to be put in touch with individual lenders. His business had failed and he was in dire financial straits. His daughter's wedding was not too far away, adding to his worries.

Shamsudheen, who has always been against individual lenders because they charge high interest rates, didn't know any such lender. Instead he reminded the client of his and his wife's investment they made years ago in shares of a well-known Indian media company and advised him to sell them. He had bought at a mere Rs100 per share and over the years, the price had shot up to Rs2,600. The client followed Shamsudheen's advice. In fact, he received much more than what he required financially. The client was able to meet all his obligations, including comfortably paying all the wedding expenses.

"No doubt, it's the most memorable story of my career," Shamsudheen says, with a tinge of emotion in his voice.