Mashreq links with Murdoch University Dubai to aid higher education
United Arab Emirates, Dubai, 22nd March 2010: Challenging economic conditions, rising costs of living and financial strains have left parents and students in a difficult position when it comes to investing in higher education. Recognising the need to enable students to pursue their academic careers, Mashreq and Murdoch University have joined forces to assist students pay for their education through the launch of an 'Education Loan'. Murdoch University in Dubai is the official branch campus of Murdoch University, which is based in Perth, Western Australia.
Designed to provide parents and students with financial peace of mind, the 'Education Loan' is available to working students or residential parents. Students availing of this facility from Mashreq will be granted a discount on tuition fee from Murdoch University, easing financial stress.
"Higher education should be accessible to everyone. Today's work places are extremely competitive with companies increasingly looking at academic qualifications as a prerequisite for job applicants. As a result of this, and in an effort to assist students achieve a degree in their chosen field, Mashreq partnered with Murdoch University to provide a convenient banking solution that caters directly to student requirements," stated Niranjan Mendonca, Head of Retail Assets, Mashreq.
Students or parents applying for the 'Education Loan' may apply for full or part of the tuition expenses. A minimum income of AED7, 000 is required for applicants, and repayment is made affordable through flexible repayment plans.
"Murdoch University's basic premise is to always ensure all students are given equal opportunities. In today's financial environment, it is not uncommon to have cash-flow issues and we are extremely happy to be able to address such problems. The collaboration with Mashreq will enable students to pursue their qualifications regardless of any short-term concerns with funding." said Professor John Grainger, Pro-Vice Chancellor of Murdoch University.
Additional benefits to the 'Education Loan from Mashreq' include; simple documentation and quick processing fee, enabling students to be quickly granted access to their financial assistance; a loan top-up facility in case of future financial requirements; a credit card and a revolving overdraft. Students applying for loans greater than or equal to AED25,000 will also be allowed a zero balance current account, free cheque book and debit card.
Murdoch University in Dubai offers internationally recognised undergraduate and postgraduate degrees in Business, Finance, Journalism, Media, Communication, Environmental Science and Computer Science.
For more information log on to either: www.mashreqbank.com or www.murdochdubai.ac.ae.
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About Mashreq:
Mashreq is one of the largest banks in the UAE 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 travellers' 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
