Mashreq Grants Scholarships to Three Outstanding Students

Dubai, United Arab Emirates, 13 February 2008 - In the presence of Mr. Abdul Aziz Al-Ghurair CEO of Mashreq, Dr. Howard Reed, Senior Director at the Higher Colleges of Technology and Director of Dubai Women's College (DWC) and students of Dubai Women's College, Mr. Al-Ghurair presented a scholarship of AED3,000 to three of the highest achieving students at Dubai Women's College (DWC). The amount would be granted on a monthly basis for the duration of their study at the college.

At the ceremony the group of students, who had been to Hong Kong under the sponsorship of Mashreq, gave a presentation of their field trip and discussed the experience they gleaned, stressing the importance of organizing similar trips for students in the future.

In his speech, Al-Ghurair said "We are in need for a national workforce that has expertise in banking; thus, it is imperative to foster the desire to seek knowledge among nationals and to encourage them to become more abreast with the latest developments in this sector through the support of the private sector and the organization of field trips that can give them an insight into the banking work environment". Al-Ghurair added "The current banking boom has added to the importance of the sector making the UAE's banking sector the largest in the Gulf region."

Commenting on the role of the private sector in education, Dr. Howard Reed, said "One of the most important criteria for the success of any society is the active participation of the private sector in supporting the educational system. This has been clearly illustrated today through Mashreq's support of students and its active participation in sponsoring a trip to Hong Kong last month; a trip which has given students an invaluable insight into the banking sector, not only on a national level, but on a much wider and global scale. I would like to thank Mashreq for its generous sponsorship, and we look forward to continued cooperation in future."

Addressing participants at the ceremony, Shatha Al-Muammari, Emiratization Manager at Mashreq, said "I was one of the participants in the field trip to Hong Kong, and I must say that I personally have gained much experience from visiting a number of global banks, the stock market and several other financial institutions in Hong Kong." She added "In the learning process it is vital to link the theoretical aspect with the practical in order to ensure that students have a full comprehension of what they learn. With this in mind, we, at Mashreq, look forward to more activities in support of education and other sectors of our society."

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About Mashreq
Mashreq is the largest private bank in the UAE and also the second oldest. Founded in 1967 as Bank of Oman, the bank has played a pioneering role in the industry, particularly in retail banking. Among its many firsts it was the first to launch such products as travellers' cheques, credit cards and ATMs.

It is invariably among the highest performing banks in the region. Last year it recorded a Net Profit of over US$470 million from a Total Operating Income of $844 million. At the end of last year its Total Assets stood at $15.2 billion

Mashreq has received numerous international awards, particularly for quality management. According to independent research it has more ISO certifications than any bank in the region by a wide margin.

As a leading financial Institution in the UAE Mashreq aims to be world class in every facet of its business, including its social responsibility to the community it serves. Towards this goal the bank pays particular attention to recruiting, training, developing and retaining UAE National employees.

About DWC
Dubai Women's College, with more than 2,300 students, is a part of the Higher Colleges of Technology. The HCT is one of the leading higher education institutions in the UAE with 16 campuses located throughout the country delivering a wide range of quality programs to over 16,500 students. 

© Press Release 2008