Karachi, Pakistan, 21 August 2023: Mashreq, one of the leading financial institutions in the MENA region, is proud to announce the successful incorporation in Pakistan. This marks a significant milestone in Mashreq’s strategic expansion and underlines its commitment in driving digitization and financial inclusion in high growth markets.
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.
Fernando Morillo, Group Head of Retail Banking at Mashreq, said, "Our 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. We are committed to playing 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.”
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.
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.
About Mashreq
Mashreq is more than half century old bank, yet proudly thinks like a challenger, startup, and innovator. Mashreq 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.
The bank’s mandate is to help customers find their way to Rise Every Day, partnering through the highs and lows to help them reach fulfilment, achieve financial goals, and unlock their vision of success.
Reassuringly present in major financial centres of the world, Mashreq’s home and global HQ remains in the Middle East, offering services whenever and wherever opportunity takes its customers.
Find your way to Rise Every Day at www.Mashreq.com/RiseEveryDay
For media enquiries, please contact:
Rana AlBorno
Public Relations, Mashreq
Email: RanaAlb@mashreq.com