Dubai, United Arab Emirates: Mashreq Bank, one of UAE’s leading financial institutions, has been awarded for its internal audit practices at the most recent ‘Best Practice in Internal Audit’ Awards. Instituted by the UAE Internal Auditors Association (IAA), a Global Affiliate of The Institute of Internal Auditors (IIA - USA), Mashreq Bank received two prestigious awards in the Private Sector categories: Overall Winner of the Best Practice Award and Best Practice Award in the IT Category.

Speaking on the awards, HE Abdul-Aziz Al-Ghurair, CEO of Mashreq Bank, said: “We are pleased to have been recognized by the Best Practice in Internal Audit Awards. These awards are a testament to the hard work and commitment Mashreq Bank has put into our internal practices and we greatly value the recognition and the work of the IAA. The work being done by these agencies encourages and promotes best practice in the field of Assurance – a critical element of Governance in the financial sector.”

Nasser A. Paracha, Head of Audit, Fraud and Compliance Group (AFCG) at Mashreq Bank, said: “Mashreq Bank is delighted to receive these awards as a recognition of its efforts in the Governance space. In tandem with IIA Conformance, these awards are a benchmark for the industry and aim to recognize Internal Audit functions that go the extra mile to implement best practices and standards in order to provide effective independent assurance for their organizations and stakeholders.”

The awards were presented by Mr. Richard Chambers, President and CEO of IIA Global, USA, in the presence of Mr. Abdulqader Obaid Ali, President of the UAE IAA.

To learn more about the awards and UAE IAA, please visit: https://www.iiauae.org/index.htm

About Mashreq:

Established in 1967, Mashreq is the oldest privately held Bank in the UAE with award winning financial solutions and services. Throughout its 50 years' history, Mashreq has differentiated itself through innovative financial solutions, making it possible for its customers to achieve their aspirations. Today, Mashreq has a significant presence in 11 countries outside the UAE with 21 overseas branches and offices across Europe, USA, Asia and Africa. 

Mashreq launched its new Vision and Mission recently, outlining its commitment towards its clients, colleagues and the community. In line with its new Vision to be the region's most progressive bank, Mashreq leverages its leadership position in the banking industry to enable innovative possibilities and solutions for its customers across Corporate, Retail, International, Treasury and Islamic Banking. Mashreq is proud to be the first financial institution in the UAE to be awarded the Gallup Great Workplace Award for four consecutive years from 2014-2017. Mashreq also continues to invest in recruiting, training and developing future generations of UAE National bankers. 

© Press Release 2018