Latest news with #MohammedAlHashmi
Arabian Post
3 days ago
- Business
- Arabian Post
UAE's Mashreq Bank Launches Office in Türkiye to Boost Capital Flow
Mashreq Bank has inaugurated a representative office in Türkiye, marking a significant stride toward enhancing financial collaboration between the Gulf and Turkish markets. This strategic move is central to Mashreq's initiative to channel risk capacity and capital flows directly to Turkish banks and corporates. Dubai's Mashreq is already a familiar correspondent to Turkish financial institutions, actively participating in syndicated loans, trade finance, payments, treasury services and capital markets. Now, with its local presence in Istanbul, the bank aims to deepen engagement, offering on-the-ground support to clients and bolstering access to global capital markets. Group Chief Executive Officer Ahmed Abdelaal underscored the office opening as a step into 'Türkiye's strategic location, dynamic economy, and strong trade and investment ties with the UAE'. He emphasised that the expansion was aligned with Mashreq's vision of building 'a truly global banking network that connects key economic corridors.' ADVERTISEMENT Mashreq has already established itself as a leading bookrunner for Turkish borrowers, playing a key role in structuring bond issuances for prominent Turkish banks. This activity highlights the bank's significance in supporting capital raising on behalf of Turkish clients. Operating across 14 countries and regulated by the Central Bank of the UAE, Mashreq has demonstrated robust international growth. Its footprint spans the Middle East, South Asia, and key financial centres including New York, London and Hong Kong. The new Türkiye office is part of this wider expansion, underscoring a concerted push toward strengthening global capital market presence. The financial landscape in Türkiye has evolved in the past decade, with local banks seeking international partnerships to diversify funding sources. Inflationary pressures, high interest rates and currency volatility have made access to foreign capital especially valuable. By providing a direct conduit to Gulf and global investors, Mashreq's İstanbul office could become a gateway for Turkish entities to tap into new liquidity pools. Analysts point out that Gulf-based banks are particularly well-positioned to support emerging markets such as Türkiye thanks to their large capital buffers, risk appetite and regional proximity. 'Regional banks play a pivotal role in bridging the funding gap for emerging economies,' according to Mohammed Al Hashmi, a senior analyst at Gulf Financial Insights. He added that embedding operations within local financial ecosystems helps to facilitate quicker decision-making and improve transaction efficiency. Mashreq's strategy reflects a broader trend among UAE banks to transfer capital into regional markets experiencing structural growth and occasional market stress. Earlier this year, Mashreq was lauded as the Middle East's fastest-growing banking brand and received recognition as the Best Digital Bank five years running, achievements which underscore its strong balance sheet and technological edge. ADVERTISEMENT Since its establishment, the Istanbul office has already been involved in several mandates. Mashreq served as a lead manager for corporate bond issuances and leveraged its syndication capabilities to support Turkish banks' funding and expansion programmes. Further mandates are reportedly in the pipeline, including debt structuring and trade-finance support for mid-market Turkish corporates seeking international reach. The timing is opportune, with global investors eyeing Turkish assets amid a shift in interest rate policies worldwide. Türkiye's policy rate remains elevated, while comparative opportunities in fixed income and FX-linked instruments continue to attract foreign interest, although accompanied by elevated macroeconomic risks. Mashreq's capacity to structure sukuk and conventional bonds, combined with its regional relationships, offers an appealing solution. The bank's international banking wing has steadily increased its footprint. Over the years, it has expanded correspondent banking relationships in jurisdictions such as Oman, Bahrain, Qatar, Kuwait and India, while diversifying its services to include sustainable and digital financial products. Integration of ESG and digital banking has been a focus, with the bank earning accolades including the Euromoney Trade Finance Award and recognition for its internet and digital banking capabilities. For Turkish corporates, more than ever, the need for cross-border liquidity, international financing platforms and diversified risk capacity is pronounced. Mashreq's local team is expected to fast-track access to structured debt solutions, Islamic finance products and syndication mechanisms tailored to both corporate and financial institutional clients. From a geopolitical standpoint, the expansion reflects the deepening economic linkages between Türkiye and the UAE. Bilateral trade has grown consistently in areas such as energy, infrastructure, railways and tourism. The establishment of the office provides a financial channel to support these sectors, potentially fast-tracking infrastructure project financing, private equity deals and structured transactions. Concerns persist regarding Türkiye's macroeconomic stability, with inflation still above the central bank's comfort zone and currency fluctuations posing challenges. Nevertheless, institutional investors express confidence in strategies that anchor on diversified funding and international partnerships. Mashreq's capital buffer and experience in risk transfer could help Turkish entities manage idiosyncratic volatility. The representative office comes at a time when regional banks are competing to become preferred partners for emerging markets. Mashreq hopes its established digital platforms, seasoned capital markets team and deep experience with Islamic finance will distinguish it among competitors. In Türkiye's competitive banking sector, this onshore presence could tilt selection in its favour for mandates spanning debt, treasury, trade and sustainability-linked products. As the İstanbul office scales operations, the bank intends to recruit local talent, enhance its underwriting capabilities and explore collaborations with Turkish banks in areas such as fintech, cash management solutions and ESG financing.
Zawya
20-02-2025
- Business
- Zawya
Network International and Bank Nizwa partner to enhance compliance initiatives in the Sultanate of Oman
Collaboration fortifies Network International's GCC footprint UAE: Network International LLC (Network), a leading enabler of digital commerce in the Middle East and Africa, has inked an agreement with Bank Nizwa, a leading Islamic Bank in the Sultanate of Oman, to support and enhance the Bank's compliance initiatives for its digital banking customers. As part of this collaboration, Network International will implement enterprise fraud prevention solutions and tools for Bank Nizwa to further enhance its compliance delivery capabilities for its digital banking customers. Navneet Dave, Managing Director & Co-Head of Processing - Middle East at Network International, said: 'We are excited to partner with Bank Nizwa and bolster their transformation objectives. As the global finance industry continues to digitise and find new ways to enhance customer experience, security and seamlessness will become increasingly integral to operations. In this regard, our partnership will empower Bank Nizwa to strengthen its offerings to its digital banking clientele, boosting trust and satisfaction whilst ensuring adherence and enhancement of their compliance standards.' Mohammed Al Hashmi, Chief Compliance Officer at Bank Nizwa, said: 'As we continue our journey towards transformation, we are focused on redefining the banking experience in Oman's rapidly evolving financial landscape. With consumer needs shifting towards greater convenience, security, and accessibility, our collaboration with Network International will set a new benchmark in ethical banking, in alignment with Oman's digital future and larger economic goals in addition to serving via conventional banking services.' This partnership represents a significant milestone in Network's expansion into the Sultanate of Oman and the wider GCC market, reinforcing its commitment to advancing its presence across the region. About Network International Network International is the Middle East and Africa's largest and leading digital payments company. Our purpose is to help businesses and economies grow by simplifying payments and commerce. We operate in 50+ countries serving governments, banks, fintechs, merchants and public sector companies. We have 2,000+ employees based in our markets serving over 250 financial institutions and 130,000+ merchants. About Bank Nizwa Founded in 2013, Bank Nizwa stands as the first and leading Islamic bank in the Sultanate of Oman. With a legacy rooted in trust, reliability, and unwavering adherence to Sharia-compliant principles, the bank has established itself as the preferred financial partner for individuals, businesses, and institutions nationwide. Driven by a customer-first approach and a commitment to continuous innovation, Bank Nizwa offers a comprehensive suite of products and services that blend modern banking practices with the principles Islamic finance. Boasting a network of 23 branches, the bank prioritizes digitalization and financial inclusivity, providing seamless banking experiences through its user-friendly mobile app and a digital-only branch, ensuring that customers have access to their financial solutions anytime, anywhere. As a catalyst for growth and a key contributor to Oman's socio-economic development, Bank Nizwa continues to lead the way, shaping the future of Islamic banking in the region.
Zawya
18-02-2025
- Business
- Zawya
Bank Nizwa signs partnership agreement with Network International to advance its digital transformation journey
Muscat: Driving the nation's digitalization agenda forward, Bank Nizwa, the leading and most trusted Islamic bank in the Sultanate of Oman has signed a strategic agreement with Network International to enhance compliance initiatives. This partnership underscores Bank Nizwa's commitment to pioneering innovative solutions that enhance banking convenience for customers, fostering trust and security, and elevating the overall banking experience while aligning with the nation's vision for a digitally empowered economy. By embedding this comprehensive fraud management system into its operations, Bank Nizwa seeks to enhance transactional security, minimize fraud-related risks, and ensure uninterrupted banking services for its customers. This initiative underscores the bank's dedication to maintaining transparent banking practices and operational resilience, setting a benchmark for advanced fraud prevention in Oman's financial sector. Highlighting the importance of this partnership, Mr. Mohammed Al Hashmi, Chief Compliance Officer, at Bank Nizwa, stated, 'This collaboration marks a pivotal milestone in Bank Nizwa's digital transformation journey. We are steadfast in our mission to set benchmarks for secure banking practices. Robust fraud prevention measures are indispensable in today's dynamic financial landscape, where digital threats continue to grow in complexity and scale. By integrating Network International's cutting-edge fraud management solutions, we are not only fortifying our operations but also reaffirming our commitment to delivering superior banking services.' This partnership highlights Bank Nizwa's leadership in digitalization and its commitment to fostering an inclusive and innovative banking environment. As a pioneer in introducing advanced digital solutions to diverse segments in the Sultanate, the bank combines global best practices with local expertise to provide customers with intuitive platforms that enhance efficiency, reliability, and tailored financial services. The bank's robust mobile banking application enables customers to open accounts and complete a plethora of transactions securely on the go. The bank's website also brings banking to customers' fingertips, enhancing access and convenience for all. Furthermore, the bank's groundbreaking digital only branch in Mall of Oman features cutting-edge interactive tech that enables customers to access banking operations beyond regular banking hours. Through this collaboration, Bank Nizwa highlights its forward-thinking approach, reinforcing its dedication to delivering a secure, seamless, and trailblazing banking experience. The bank remains focused on continuously refining its processes and responding to the diverse preferences of its clientele, ensuring elevated and personalized levels of customer service.
