Latest news with #JoelVanDusen
Arabian Business
6 days ago
- Business
- Arabian Business
UAE's Mashreq inaugurates a representative office in Turkiye
UAE's Mashreq Bank has expanded its global footprint by opening of a representative office in Turkiye. The Dubai-headquartered company has had a long relationship with Turkish financial institutions and corporates. It is one of the largest and most active correspondent banks operating in the country and has played a vital role in channeling risk capacity and capital flows. Mashreq is also a leading Bookrunner on key bond transactions by Turkish borrowers, including capital issuances for prominent Turkish banks and facilitated access for them to global capital markets. Mashreq inaugurates Turkiye office The representative office in Turkiye marks Mashreq's operational presence in 15 countries globally. Ahmed Abdelaal, Group Chief Executive Officer at Mashreq, commented: 'Our expansion into Turkiye reflects Mashreq's ongoing commitment to building a truly global banking network that connects key economic corridors. 'Turkiye'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 the country and the broader region with world-class financial solutions, while advancing our vision for sustainable and diversified growth.' Joel Van Dusen, Group Head of Corporate and Investment Banking at Mashreq, added: 'Establishing a representative office in Turkiye 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 Turkiye's financial ecosystem.' Turkiye ranks among the top three manufacturing hubs in Europe and plays a critical role in regional supply chains. Bilateral trade volumes with the UAE exceeding US$20 billion in 2024, and is expected to double to US$40 billion by 2031 following the signing of Comprehensive Economic Partnership Agreement (CEPA) between the two countries in 2023.
Zawya
25-06-2025
- Business
- Zawya
Mashreq Bank inaugurates office in Turkey to expand global presence
Mashreq Bank has opened its representative office in Turkey as a part of its commitment to supporting Turkish financial institutions and corporates. The UAE-based lender has an effective role in channeling risk capacity and capital flows to Turkish banks and corporates, according to a press release. Mashreq is also a leading bookrunner on key bond transactions by Turkish borrowers, including capital issuances for prominent Turkish banks. This also aligns with the bank's growth strategy to expand its local as well as global presence. Ahmed Abdelaal, Group CEO at Mashreq, said: "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." Joel Van Dusen, Group Head of Corporate and Investment Banking at Mashreq, said: "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." It is worth highlighting that the bilateral trade volumes between the UAE and Turkey exceeded $20 billion in 2024. In the first quarter (Q1) of 2025, Mashreq Bank generated net profits after tax valued at AED 1.79 billion, an annual drop of 12% from AED 2.04 billion. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
Yahoo
25-06-2025
- Business
- Yahoo
Mashreq Expands Global Footprint with Opening of Representative Office in Türkiye
With the new office, Mashreq now operates in 15 countries DUBAI, UAE, June 25, 2025 /PRNewswire/ -- 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. About Mashreq: Mashreq is more than half a century old, yet proudly thinks like a challenger, startup, and innovator. Mashreq has 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 achieve their 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. Mashreq has been recognized as the fastest-growing Middle East brand, by Banking 500 rankings for 2024 by Brand Finance. Find your way to Rise Every Day at: Photo: View original content to download multimedia: SOURCE Mashreq
Al Bawaba
17-06-2025
- Business
- Al Bawaba
Mashreq structures Debut Sustainability-Linked Financing for Galadari Brothers
Mashreq, a leading financial institution in the MENA region, has structured the first Sustainability-Linked Financing (SLF) for Galadari Brothers, a UAE-based leading conglomerate, marking a significant step in advancing their sustainability journey. As one of the UAE's most diversified and longstanding business groups – with operations spanning media, heavy equipment, food and beverage, motors, engineering, projects, facility management, sports, travel and hospitality, real estate, and other ventures – Galadari Brothers is accelerating its commitment to a robust sustainability strategy, further engaging stakeholders through clear KPIs and ambitious under Mashreq's bilateral lending relationship with the group, this transaction represents one of the largest bilateral SLF deals for a local UAE conglomerate till date. The SLF introduces performance-based pricing linked to three core Key Performance Indicators (KPIs) centered around resource efficiency, circular economy and internal capacity building and institutional alignment with ESG principles. The financing builds on the group's inaugural green loan previously extended by Mashreq in 2023 to support energy-efficiency retrofits at Galadari's flagship hotel in Sri Van Dusen, Group Head of Corporate & Investment Banking, at Mashreq said: 'This transaction with Galadari Brothers, a name synonymous with industrial and commercial growth in the UAE, demonstrates how sustainability can be embedded into core financing structures. As long-term partners, we are proud to support the group's Sustainability ambitions and to play a catalytic role in the region's transition toward more responsible capital markets. Sustainability-linked finance is the future of corporate lending, and we are committed to helping clients lead from the front.'Faisal AL Shimmari, Head of ESG and Corporate Strategy at Mashreq, commented: 'This deal is a clear example of how sustainability-linked finance can be applied across complex, multi-sector businesses—not just to drive environmental outcomes, but to empower people and communities. As one of Mashreq's largest bilateral transactions to date, it reflects a broader shift in the region, where more companies are aligning financing with their ESG ambitions in ways that directly impact lives. This SLF with Galadari Brothers builds on Mashreq's commitment to helping clients achieve measurable ESG outcomes that support both national priorities and global sustainability goals. By embedding human-centricity into our financial instruments—through inclusive KPIs, transparent governance, and stakeholder engagement—we ensure that sustainability is not just about metrics, but about meaningful progress for individuals, families, and society at large.'Mohammed Galadari, Co-Chairman and Group CEO of Galadari Brothers, said: 'This milestone Sustainability-Linked Financing deal marks an important step forward in our ongoing efforts to integrate environmental, social, and governance principles across all areas of our business. As we continue to grow and diversify, aligning our financial strategy with clear ESG goals is both a business priority and a reflection of the values we stand for. Our partnership with Mashreq reinforces our commitment to building a more sustainable future for our businesses, our people, and the communities we serve, while also supporting the UAE's broader vision for responsible and inclusive growth.'R V Ramanan, Group Chief Financial Officer of Galadari Brothers, said: 'This landmark transaction with Mashreq marks a significant step in aligning the Group's financing strategy with our ESG ambitions. It reflects our vision to progressively transition toward a fully green and sustainability-linked model. More than just a transaction, it reinforces our long-term commitment to responsible growth—integrating sustainability into the core of how we fund our expansion across sectors and regions.' This transaction supports Mashreq's broader sustainable finance strategy and contributes to its goal of facilitating USD 30 billion in sustainable finance by 2030. The bank has played a leading role in several notable ESG transactions in the region, including the largest sustainability-linked loan in the region to date. The facility is also part of Mashreq's Climb2Change initiative, a global platform that unifies the bank's efforts in sustainable finance, responsible banking, and social impact, reinforcing its position as a leader in sustainable banking across the MENA region.
Al Bawaba
20-05-2025
- Business
- Al Bawaba
Mashreq Unveils Next-Generation API Marketplace to Accelerate Digital Innovation
Mashreq, a leading financial institution in the MENA region, has launched its next-generation API Marketplace, a dynamic platform designed to empower corporate clients, developers and fintechs with seamless access to Mashreq's suite of APIs. The Application Programming Interface (API) is a technical code that connects and allows seamless data exchange between different systems. They are transforming how corporates manage payments, receivables and liquidity, providing real time visibility on their cash positions and payments.'The API Marketplace is a key pillar in our broader digital strategy.' said Joel Van Dusen, Head of Corporate and Investment Banking Group at Mashreq. 'At Mashreq, we are committed to driving the future of open banking and digital transformation through APIs. Our new API Marketplace is not just a technology platform —it's a strategic enabler that allows our clients and partners to co-create, innovate, and scale faster than ever before.'The platform introduces several groundbreaking features, including automated developer registration, real-world case studies, and a flexible subscription model— aimed at fostering innovation through a more agile and collaborative digital API Marketplace comes at a time when API adoption is experiencing exponential growth in the UAE and the Central Bank has been actively promoting open finance through initiatives like the Open Finance Framework, encouraging banks to adopt API standards and collaborate with fintechs to innovate new business solutions.'The launch or API Marketplace marks a significant milestone in our digital journey,' said Vivek Batra, Global Head of Global Transaction Banking (GTB) at Mashreq. 'It is designed with a developer-first mindset, offering intuitive tools, sandbox environments, and comprehensive documentation. It enables us to extend our services beyond traditional channels and integrate seamlessly into the digital journeys of our customers, exploring new ideas, partnerships, and new business models. By simplifying access and offering real-world use cases, we are making it easier for developers and businesses to build the next generation of financial solutions.' With this launch, Mashreq continues to reinforce its position as a digital pioneer in the region, offering clients and partners the tools they need to thrive in an increasingly connected world.
