Mashreq

Mashreq Bank is a major financial institution based in the United Arab Emirates, whose main activity is banking and financial services. It offers a wide range of banking products and services for individuals as well as businesses and institutional clients.

The main products and services offered include :

• Bank accounts : current accounts, savings accounts, children’s accounts, foreign currency accounts, term deposits, and cross-border accounts.
• Cards : credit cards (Visa, Platinum, Cashback, etc.), debit cards, and associated offers.
• Loans : personal loans, mortgage loans, car loans, card loans, and debt consolidation solutions.
• Transfers and foreign exchange : international and local transfers, multi-currency accounts, currency exchange.
• Investments : wealth management, investments in local and international equities, mutual funds, thematic investments, gold and silver, US stocks and ETFs.
• Insurance : life, accident, health, auto, home, travel, pet insurance, and savings plans.
• Digital banking : mobile, online, and WhatsApp banking services, enabling account management, payments, transfers and remote investments.
• Offers and loyalty programs : cashback, Mashreq Vantage reward points, promotions on cards and salary transfers.

Mashreq primarily targets the retail market (residents and expatriates), SMEs, large corporations and institutional clients, mainly in the United Arab Emirates but also in other countries in the Middle East, Asia, Europe and North America. The bank positions itself as an innovative, digital and international player, offering solutions tailored to a diverse clientele.

Mashreq Bank, founded in 1967, is one of the oldest private financial institutions in the United Arab Emirates. Since its inception, Mashreq has established itself as a key player in the regional banking sector, adopting principles of sustainability and innovation from an early stage.

Key milestones in its development:

• 1967: Establishment of Mashreq in Dubai, marking the beginning of its banking activities in the Gulf region.
• Innovation and digitalization: Mashreq was a pioneer in introducing digital banking solutions, with the launch of Mashreq NEO, a fully digital bank, and numerous mobile and online services (mobile banking, chat banking, etc.).
• Product development: The offering has expanded over the decades: current and savings accounts, credit and debit cards, personal and home loans, investment solutions, insurance, international transfers, etc.
• International expansion: Mashreq has extended its presence beyond the United Arab Emirates, with operations in Egypt, Pakistan, Qatar, Oman, Bahrain, Kuwait, India, Hong Kong, the United Kingdom, the United States, China, Nepal, and Bangladesh.
• Strategic partnerships: Mashreq has formed partnerships with major players to enhance its offerings (e.g., co-branded cards, payment solutions, collaborations with fintechs and digital platforms).
• Commitment to sustainability: Since its foundation, Mashreq has integrated social and environmental responsibility principles into its strategy, with initiatives supporting sustainability and responsible innovation.
• Ongoing digital transformation: Launch of innovative products such as NEO PLUS, Digital Wealth Solutions, and the integration of Open Finance (AlTareq initiative) to offer connected and personalized financial services.

Today, Mashreq stands out for its comprehensive range of banking services, strong digital focus, and international presence, while continuing its transformation to meet new customer needs and the challenges of modern finance.

The founder of Mashreq Bank is Abdul Aziz Al Ghurair. The main members of the management team include Ahmed Abdelaal, who holds the position of Chief Executive Officer (CEO), as well as other executive committee members such as Fernando Morillo (Group Head of Retail Banking), Joel Van Dusen (Group Head of Corporate & Investment Banking), and Muna Al Gurg (Head of Marketing & Corporate Communications). Mashreq Bank is one of the oldest private banks in the United Arab Emirates, with recognized leadership in the region’s banking sector.