Strategic expansion plans across the UAE
United Arab Emirates, 2nd May 2010: Mashreq, one of the UAE's leading financial institutions announced the opening of its branch in Business Village (BV) with its new fresh design and unique combination of SME centre, Mashreq Gold Centre and branch. The move demonstrates Mashreq's commitment towards its expansion plans in 2010 to provide customers with greater accessibility and convenience to meet their banking needs. Located at Clock Tower, Dubai, Business Village (BV) is an initiative of Mohammed Bin Rashid Establishment (MBRE) for Young Business Leaders.
The inauguration ceremony was attended by H.E. Abdulaziz Al Ghurair - CEO of Mashreq, Mr. Abdul Baset Al Janahi - CEO of MBRE, Mr. Ali Ibrahim - Deputy Director General for Executive affairs and Mr. Khalid Al Kassim, Deputy Director General for Planning and Development in Dubai's Department of Economic Development.
During the opening, H.E. Abdulaziz Al Ghurair commented, "Our strategic presence in Business Village is essential, as it's a unique development catering to large audience of Government departments, SME's and entrepreneurs. We are expanding further to be more accessible to more customers. As an industry leader, we constantly look to support innovative and successful initiatives, which will contribute to the economy in the long term. With our extensive background of over 40 years in the banking industry, we aim to be the bank of choice for start up businesses".
His Excellency Abdul Baset al Janahi, CEO of MBRE for SME Development said: "We are very pleased to host Mashreq along with the leading organizations that joined the BV recently. We are sure that Mashreq's presence will be an additional value to the services we provide to the SMEs in Dubai. We are eager to offer incubation for young business leaders who are looking forward to start their businesses within this environment which allows them to benefit from its many services and facilities."
Mashreq's presence in BV includes a dedicated Small & Medium Enterprises centre to cater to SME clients, Mashreq Gold for priority customers as well as retail banking services through both Mashreq Al Islami and the conventional Mashreq bank. The newly opened branch carries the new design upgrade, highlighting the brand values of the bank, which includes an open friendly and bright feel.
Douglas Beckett, Head of Mashreq's Retail Banking Group, stated, "At Mashreq, we aim to offer convenient banking solutions to ensure the most comprehensive facilities and packages are within easy reach to all of our customers. Our latest branch offers a wide range of services under one roof, making us more."
Positioned as a key promoter of SME initiatives, Mashreq signed a Memorandum of Understanding (MOU) last year with MBRE to widen the scope for both institutions to facilitate SME growth and development. The collaboration is designed to utilize the resources and infrastructure available to help meet the business development goals of SMEs. This includes training, technical and financial advice, support services, SME banking, as well as symposiums and conferences for customers and MBRE members.
-Ends-
About Mashreq:
Mashreq is one of the largest banks in the UAE. 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 travelers' cheques, credit cards and ATMs.
Mashreq has received numerous international awards such as the Best Bank in the UAE in 2008 from Euro money and various awards particularly for quality management. According to independent research it has more ISO certifications than any bank in the region by a wide margin. It's most recent acknowledgement was Best Consumer Internet Bank in Qatar and Best Consumer Internet Bank regionally by Global Finance Awards 2009.
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.
For further information, please contact:
Huda Ismail
Asst. PR Manager, Mashreq
Tel: 04 - 6083629
Email: HudaI@mashreqbank.com
Nancy D'Souza
Gulf Hill & Knowlton
Tel: 04 334 4930
Email: Nancy.DSouza@hillandknowlton.com
© Press Release 2010
