KARACHI: Mashreq, one of the leading financial institutions in the MENA region, has announced the successful incorporation in Pakistan and will commence banking operations very soon.
To mark this significant occasion, a high-level Mashreq delegation including senior members of the executive committee visited Pakistan to strengthen ties and consider collaboration to recognize this momentous milestone along with our independent board members Syed Naseer Hassan and Rashid Khan.
Currently, Mashreq has a Centre of Excellence (CoE) in Pakistan to deliver a portfolio of innovative products. Leveraging its successful incorporation in Pakistan, Mashreq is confident that its entry into the country will lay the foundation for a fruitful partnership that will benefit consumers, businesses, and the economy alike.
This marks a significant milestone in Mashreq’s strategic expansion and underlines its commitment in driving digitization and financial inclusion in high growth markets.
Mashreq is more than half century old bank and pioneered key innovations and developments in banking, starting with entry-level digital-first customers, all the way to powering some of the region’s most prominent corporations and wealth accounts.
Fernando Morillo, Group Head of Retail Banking at Mashreq, has said that Mashreq’s foray into Pakistan is a pivotal moment for Mashreq, marking a new chapter in our strategic expansion. “We eagerly anticipate the opportunities to collaborate with local stakeholders and contribute towards a robust digital ecosystem that will transform the country’s financial landscape,” he added.
He expressed commitment to play a vital role in the country’s digitization efforts and financial development, particularly in the sectors of SME, payments, and inclusion. The bank’s tech-ready infrastructure, coupled with its digital DNA, will be leveraged to empower customers in the market, meet their evolving needs, deliver seamless banking experiences and support the country’s vision of a financially inclusive, digitally led economy, he further said.
Mashreq is committed to fostering the growth of the country by harnessing local talent and expertise. Through cultivating a digital ecosystem supported by robust infrastructure and institutional frameworks, Mashreq aims to propel Pakistan towards a future of digital innovation and financial inclusivity.
Copyright Business Recorder, 2023
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