The leading financial institution Mashreq opened a 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.
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 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 Middle East 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 branch 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, 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.”
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 Regions of 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.