Sunday, October 1, 2023
  • About Us
  • Events
  • Advertise
  • Contact
  • Login
  • Register
No Result
View All Result
The Wealth Today
  • Investments
  • Wealth Management
  • Technology
  • People
    • New Leaders
  • Impact Investing
  • Partner Content
  • Risk & Compliance
  • Exclusives
The Wealth Today
No Result
View All Result
Home Banking

Mashreq Ramps Up Asia Operations With Opening Of Its First Representative Office In Shanghai

The Wealth Today by The Wealth Today
September 7, 2021
in Banking, Foreign Ownership, Investment, News
Mashreq Ramps Up Asia Operations With Opening Of Its First Representative Office In Shanghai
Share on FacebookShare on Twitter
  • Office will serve as an instrumental link in trade and investment flows between China and the UAE
  • With the new representative office, Mashreq has a presence in 13 countries

Mashreq Bank, a leading financial institution in the UAE, has inaugurated its representative office in Shanghai amid a strategic push to expand its presence in China. The Shanghai representative office will serve as a liaison office, with the primary objective of building Mashreq’s franchise in mainland China. The office will be a key intermediary for Middle Eastern corporations with trade and investment flows into China, as well as for Chinese enterprises looking to establish operations within Mashreq’s existing international banking footprint.

Ahmed Abdelaal, Group CEO of Mashreq Bank, commented: “This milestone marks a strategic step into expanding our promising footprint into China. At Mashreq, we see this representative office as an instrumental initial link in fostering trade and investment flows between the UAE, wider Middle East and China. We believe there is enormous potential on the back of China’s Belt and Road initiative and the growing bilateral relationship between the UAE and China.”

“Most importantly, the office enables us to leverage our insights of the MENA region for our stakeholders, as well as provide invaluable on-the-ground knowledge of China’s economic and banking landscape. We are proud of this milestone and look forward to exploring opportunities to further expand in the future.” Abdelaal added.

Tarek El Nahas, Senior Executive Vice President and Head of the International Banking Group, Mashreq Bank, commented: “The international banking business is a significant contributor to Mashreq’s overall revenues and the opening of a representative office in Shanghai demonstrates long term commitment towards strengthening our franchise in Asia. As China continues to shape the global trade map, corporates and financial institutions are adapting and repositioning themselves in order to leverage the evolving growth opportunities. The Shanghai presence is of high strategic interest to us and will produce synergies with all the international offices in Mashreq’s global network.”

With this latest announcement, Mashreq now operates in 13 countries, including the UAE. The UAE is considered China’s largest non-oil trading partner in the Middle Eastern and North African region. According to recent reports, UAE-China trade volume has reached over $50 billion, and the target is to expand further to $200 billion by 2030. Additionally, China’s Belt and Road Initiative is expected to significantly boost bilateral trade and will involve massive infrastructural developments such as the construction of roads, 

——

Disclaimer: The content of the above information is sourced (or provided), in entirety or in parts from an external source and the content may or may not be edited. The Wealth Today shall not be held liable for damages arising out of any action taken with respect to the use or consumption of information or service published above or anywhere else on the website. This website does not guarantee the accuracy, views, opinions, or any promises expressed in the above news. 

If you find any errors or discrepancies in the above information, you can write to us at editor@thewealth.today.

——


Tags: bankingchinaExpansioninvestment
Previous Post

Al-Roshood: Digital Transformation is Not a Choice but a Must

Next Post

Cultural Development Fund and Riyad Bank Sign a Memorandum of Understanding to Empower Businesses in Cultural Sector

Next Post
Cultural Development Fund and Riyad Bank Sign a Memorandum of Understanding to Empower Businesses in Cultural Sector

Cultural Development Fund and Riyad Bank Sign a Memorandum of Understanding to Empower Businesses in Cultural Sector

Recent Tweets

  • About
  • Get Engaged
  • Events
  • Contact
  • T&C
  • Privacy Policy

© 2021 The Wealth Today

No Result
View All Result
  • Investment
  • Wealth Management
  • Technology
  • People
    • New Leaders
  • Impact Investing
  • Partner Content
  • Risk & Compliance
  • About
  • Events
  • Advertise
  • Contact
  • Exclusives
  • Login
  • Sign Up
  • Cart

© 2020 The Wealth Today

Welcome Back!

OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

OR

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Cookie settingsACCEPT
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT

Add New Playlist