Mashreq Expands Global Footprint with Opening of Representative Office in Türkiye
أحمد عبد العال الرئيس التنفيذي لمجموعة بنك المشرق
Mashreq, one of the leading financial institutions in the MENA region, has announced the opening of its representative office in Türkiye, reinforcing its long-standing commitment to supporting Turkish financial institutions and corporates
As one of the largest and most active correspondent banks operating in Türkiye, Mashreq has played a vital role in channeling risk capacity and capital flows to Turkish banks and corporates. Mashreq is also a leading Bookrunner on key bond transactions by Turkish borrowers, including capital issuances for prominent Turkish banks. These efforts underscore Mashreq's position as a strategic financial partner, facilitating access to global capital markets and strengthening the financial connectivity between Türkiye and its global partners
The establishment of the Türkiye office follows a period of accelerated engagement between Mashreq and leading Turkish institutions across syndicated loans, trade finance, payments, treasury services, and capital markets. This expansion also aligns with the bank's regional growth strategy and complements its expanding global presence
Ahmed Abdelaal, Group Chief Executive Officer at Mashreq, said: 'Our expansion into Türkiye reflects Mashreq's ongoing commitment to building a truly global banking network that connects key economic corridors. Türkiye's strategic location, dynamic economy, and strong trade and investment ties with the UAE present significant opportunities for collaboration. This strategic milestone strengthens our ability to support clients in Türkiye and the broader region with world-class financial solutions, while advancing our vision for sustainable and diversified growth
The UAE and Türkiye are major economic partners, with bilateral trade volumes exceeding US$20 billion in 2024. Under the recently signed Comprehensive Economic Partnership Agreement signed in 2023, non-oil trade is projected to grow significantly, aiming to reach US$40 billion by 2031. Türkiye also ranks among the top three manufacturing hubs in Europe and plays a critical role in regional supply chains
Joel Van Dusen, Group Head of Corporate and Investment Banking at Mashreq, said: 'Establishing a representative office in Türkiye reinforces our commitment to supporting a wide spectrum of clients in one of the region's most dynamic and strategically important markets. This on-the-ground presence enables us to deliver more responsive, tailored solutions across trade finance, capital markets, and treasury services. Leveraging Mashreq's digital-first infrastructure and global expertise, we are well-positioned to facilitate cross-border trade, enhance capital access, and contribute meaningfully to Türkiye's financial ecosystem
The Türkiye Representative Office marks another milestone in Mashreq's international journey, expanding the bank's operational presence to 15 countries globally Google News تابعونا على تابعونا على تطبيق نبض
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Middle East
2 days ago
- Middle East
OPEN// Egypt, Poland FMs in talks over elevating bilateral relations
CAIRO, June 26 (MENA) - Minister of Foreign Affairs, Emigration and Egyptian Expatriates Badr Abdelatty and his Polish counterpart Radosław Sikorski expressed their desire to elevate bilateral relations during a phone call on Thursday. The contact focused on increasing trade volume and attracting more Polish investments to Egypt. Both ministers reviewed the progress in bilateral relations in recent years. They also followed up on the outcome of the Polish foreign minister's visit to Cairo in April that underscored the importance of continuing bilateral frameworks, such as the Joint Economic Committee. Abdelatty praised Poland's EU Council presidency and its support for Egypt within EU institutions. He also welcomed the European Council's approval of the second tranche (€4 billion) of the EU's financial support package for Egypt. As for the Middle East developments, the contact tackled Egypt's efforts to secure a ceasefire, and humanitarian aid access. Abdelatty reviewed Egypt's contacts to de-escalate Iran-Israel tensions, urging both sides to maintain calm for regional stability. The Polish minister lauded Egypt's role to boost security and stability in the region and its efforts to secure a ceasefire in Gaza and maintain Iran-Israel ceasefire. (MENA) S R E
Middle East
2 days ago
- Middle East
OPEN// PM: Egypt ranked 9th globally in attracting FDIs according to int'l report
NEW ALAMEIN CITY, June 25 (MENA) - Prime Minister Mostafa Madbouli said on Wednesday that an international report indicated that Egypt ranked 9th globally in 2024 in terms of attracting foreign direct investments (FDIs), after previously ranking 35th. This is a positive development, and the state will continue to promote investment in the coming period, accelerate licensing processes, and provide more facilities for both foreign and local investors to encourage a favorable investment climate, Madbouli told a press conference at the government headquarters in New Alamein City following the weekly Cabinet meeting. The prime minister reassured the Egyptian people that the country's economic situation is stable, pointing out that Egypt's foreign currency resources in May matched the state's spending for the fourth month in a row. He also emphasized that Egypt is capable of meeting its needs without relying on hot money (short-term speculative capital), and that local resources now cover consumption and needs. (MENA) I S N/S R E
bnok24
3 days ago
- bnok24
EFG Hermes Successfully Completes Advisory on USD 500 Million IPO of Specialized Medical Company on the Saudi Exchange
EFG Hermes, an EFG Holding company and the leading investment bank in the Middle East and North Africa (MENA), announced today that its investment banking division successfully completed its advisory on the USD 500 million initial public offering (IPO) of Specialized Medical Company (SMC), one of the leading healthcare providers in the Kingdom of Saudi Arabia, on the Main Market of the Saudi Exchange (Tadawul). This marks EFG Hermes' third IPO in the healthcare space in the past 12 months, further reinforcing its position as a trusted advisor across the region's most dynamic sectors The company began trading today under the ticker 4019 Specialized Medical Company offered a total of 30% of its total issued share capital through the sale of 75 million ordinary shares at SAR 25 per share, implying a market capitalization of SAR 6,250 million (USD 1,667 million). The orders recorded during the institutional book-building exceeded SAR 121.3 billion, representing a coverage of 64.7x Karim Meleka, Co-Head of Investment Banking at EFG Hermes, said, 'We are proud to have advised on the IPO of Specialized Medical Company. Despite heightened geopolitical tensions in the region, the offering attracted overwhelming interest from a diverse base of local, regional, and international investors — a clear vote of confidence not only in SMC's fundamentals but also in the resilience of Saudi Arabia's capital markets and the strength of its macroeconomic outlook SMC was founded in 1999 and is one of Riyadh's leading multi-specialty private healthcare providers, with a 25-year track record of delivering high-quality, patient-centric medical care. The Company operates two state-of-the-art hospitals in Riyadh with a combined capacity of 578 inpatient beds and 266 outpatient clinics. SMC is strategically expanding into Northern Riyadh, where rapid urban development is creating strong demand for healthcare services. With three additional hospitals, it is expected to capture over 25% of private hospital capacity in the area, establishing a leading position in an underpenetrated region with limited existing healthcare infrastructure – one that is set to become Riyadh's new urban hub. Once operational, the new facilities are expected to more than double the Company's current capacity to approximately 1,276 beds and 770 outpatient clinics EFG Hermes acted as a Joint Financial Advisor, Joint Bookrunner, and Joint Underwriter on the transaction EFG Hermes has advised on six IPOs across the region year to date, including landmark transactions on Tadawul, the Abu Dhabi Securities Exchange, the Muscat Stock Exchange, and the Egyptian Exchange, underscoring its regional leadership in equity capital markets Google News تابعونا على تابعونا على تطبيق نبض
