Credits By: MediaMagick
Mashreq, a well-known financial institution with operations throughout the MENA region, said on Monday that it had successfully launched in Pakistan. According to a report by Arab News, this action is being hailed as a critical accomplishment in its strategic growth initiatives. It demonstrates its drive to advance digitization and financial inclusion inside fast-expanding markets.
A high-level team from Mashreq, which comprised essential members of the executive committee and independent board members Syed Naseer Hassan and Rashid Khan, visited Pakistan after making the declaration.
Mashreq’s Group Head of Retail Banking, Fernando Morillo, was quite excited about the potential to work with regional stakeholders. He emphasized the institution’s dedication to helping build a strong digital ecosystem that will transform the nation’s financial sector.
“We intend to play a pivotal role in the nation’s financial progress and digitization initiatives, particularly in areas like SME support, payment systems, and financial inclusivity,” said Morillo. We want to empower customers in the market, cater to their changing needs, offer seamless banking experiences, and align with the nation’s vision of achieving a financially inclusive, digitally driven economy by leveraging the bank’s technologically prepared infrastructure and innate digital capabilities.
Mashreq now operates a Centre of Excellence (CoE) in Pakistan, intending to provide various cutting-edge product solutions.
Mashreq is optimistic that its successful entry into Pakistan will lay the groundwork for a cooperative relationship that will benefit customers, companies, and the economy as a whole. Mashreq has come a long way since its founding as the Bank of Oman in 1967. It is now the oldest privately-owned bank in the United Arab Emirates and one of the most reliable financial organizations in the Middle East. It now has e-commerce and online banking capabilities, and 16 abroad offices spread over 13 different nations. In addition to Egypt, it has business and retail banking activities in Bahrain, Qatar, Kuwait, and India. Mashreq also operates full-service branches in New York, London, and Hong Kong and engages in foreign exchange business in Bangladesh, Pakistan, and Nepal. Along with supplying asset management services, the organization offers conventional and Islamic personal and investment banking services.