Mashreq Recognized As Market Leader For Its Best In Class Transactional Banking Services In The Middle East By Euromoney

Mashreq Bank, one of the leading financial institutions in the UAE, has once again achieved an important milestone by being recognized as a Market Leader for its best in class transactional banking services by Euromoney. The bank received a host of recognitions by the leading industry publication in its two recent surveys that includes the Trade Finance Survey 2021 and Cash Management for Corporates and Financial Institutions Survey 2020.

Euromoney Trade Finance Survey 2021

Mashreq attained ‘Market Leader’ position for the UAE and Middle East as part of the Euromoney Trade Finance Survey 2021. These recognitions are a reflection of the bank’s commitment towards investing in talent, new propositions such as the Structured Trade and Commodity Finance, and technology to ensure the bank’s customers receive unsurpassed trade finance offerings across the entire reach of their global businesses.

Euromoney Cash Management Survey 2020

Additionally, the bank was acknowledged as a ‘Market Leader’ in the Middle East and Africa region for Cash Management for Financial Institutions and as a ‘Market Leader’ in the UAE for Cash Management for Corporates. The latest results are a testament of Mashreq’slong-term commitment and investments into the implementation of digital technologies in the cash management space. As part of its ongoing efforts to offer best-in-class services, Mashreq has rolled out a wide variety of cash management products and solutions designed to accelerate inflows, automate payments and maximize liquidity.

Tarek El Nahas, Head of the International Banking Group at Mashreq Bank, stated: “We are absolutely honored to receive these recognitions from Euromoney. As we all know, 2020 was a particularly challenging year, marked with global uncertainty and in many cases, it significantly impacted businesses. Trade Finance has always been a strong suite for Mashreq and an area where we continue to invest and bring in new trade finance solutions and digital capabilities.We have increased our focus on structured trade, supply chain, and commodity trade finance solutions to support the evolving business requirements of our clients. This award is a recognition of our commitment and responsibility towards our clients in their journey of recovery and progress.”

Joel Van Dusen, Group Head of Corporate & Investment Banking, added: “Throughout 2020, we at Mashreq strived to expand our market leadership across the UAE, Middle East and Africa region, and we are humbled that our efforts have been recognized by our clients through these Euromoney surveys.A key part of this wider effort is ensuring that impeccable transactional banking services are available to our corporate and financial institutions clients. This award highlights our expertise, operational prowess and the robust processes, that have built trust among our clients. It is this trust that allows Mashreq to excel.”

Euromoney is renowned for its benchmark surveys, awards and ratings in the banking industry.

Last year, Mashreq also won a number of awards from Asiamoney Middle East’s Best Bank Awards, as well as several from World Finance and the ‘Middle East’s Best Digital Bank’ from Euromoney’s Regional Awards for Excellence.