14 September 2014
Branch to combine Smart Banking and Mashreq Al Islami capabilities

Dubai - In line with some of its recent innovations, leading financial institution Mashreq opened a cutting-edge branch in Al Ain on Thursday. The branch will feature Islamic Banking first and conventional smart banking capabilities, and was inaugurated by Farhad Irani, Head of Retail Banking and Shaker Zainal, Head of Distribution along with staff.

Farhad Irani, Head of Retail Banking, said: "Our significant investment in our new home in Al Ain is but a manifestation of the importance Mashreq the oldest bank in the UAE gives to this primary Emirate. Our new Al Ain main branch is fully functional offering transactional, payment, wealth, small business, private banking and Corporate and Institutional banking services. Spread across 5000 sq feet and with 30 full time staff we expect this proud new initiative to bring to the residents and business community in Al Ain the best retail and business banking service that Mashreq has today been recognized for across the ME region. Most importantly we have invested in our best user interface technologies at the branch allowing for a customer experience that has given Mashreq the status of the most innovative and overall Best Retail Bank, three years in a row. I would thank and invite all our existing customers in Al Ain to visit our new home along with business associates and family and enjoy the convenience of next generation digital banking."

Farhad added, "To make you first visit to our new home a cherished one, Mashreq has besides specially crafted a host of welcome specials - services and benefits during the first 100 days of the branch's opening. This includes complete waiver of processing fees, special bonus on rewards, free insurance cover, special gifts etc on a range of Sharia'h compliant best in class services. Thank you Al Ain for giving us the opportunity to give you our best!"

The two-storey branch is located next to Al Ain Mall, and will also offer a plethora of other services, including Mashreq Gold Center and SME Center. One feature offered out of the branch will be a 100% processing fee waiver on Personal Finance designed on 'Commodity Murabaha' principles.

Shaker Zainal, Head of Distribution, Mashreq said during the inauguration: "The Emirate of Al Ain is a very strategic location for us and one that reflects our expansion plans within the UAE. In today's time, customers look forward to seamless financial solutions that are convenient and smart. Today, we are proud to expand our smart banking initiative to Al Ain, after having it launched in Abu Dhabi, Dubai, Sharjah and soon to cover all the other Emirates. We are proud to be leading the digital banking space with the latest and best technology out there to empower our customers."

Other offers to be rolled out within the first 100 days of the branches' opening will include a Takaful offering with free accidental coverage of AED 500,000, as well as gift vouchers with loans taken through the bank.

-Ends-

About Mashreq
Mashreq is one of the UAE's leading National Financial institutions and 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 travelers' cheques, credit cards and ATMs.

Mashreq has received numerous international awards reflecting the bank's successful record, such as the Best Credit Card and Best Debit Card by Smart Card Awards Middle East 2013, Best Retail Bank UAE Award by Global Banking & Financial Review 2013, Best Banking Group in UAE by World Finance, Best Banking Innovation, Best Islamic Window, Best Technology Implementation by Banker ME Industry Awards 2013, Best Loan House in UAE by EMEA Finance Middle East Banking Awards  2013, Best Debt House Award by EMEA Finance 2012, Best Regional Consumer Internet Bank for Online Deposit, Credit and Investment Product offerings' by Global Finance Best Internet Bank Awards 2012, Best Regional Retail Bank by The Banker ME Industry Awards 2012, Best Branch Design & Best Islamic Investment Fund Award for Mashreq Al Islami Income Fund from Banker Middle East Product Awards 2012, Dubai Human Development Appreciation Award 2012 for its efforts towards the Development of the Emiratisation initiative.

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 in. Towards this goal the bank pays particular attention to recruiting, training, developing and retaining UAE National employees.

Huda Ismail         
Public Relations, Mashreq   
Tel: 04 -6083629    
Email: HudaI@mashreq.com  

Nssrin Khalil
Public Relations, Mashreq
Tel: 04 - 6083836
Email: NssrinK@mashreq.com

© Press Release 2014