Mashreq Bank, one of the leading financial institutions in the UAE, has been recognized as a Market Leader for its best-in-class transactional banking services, as voted for by its customers in the 2022 Euromoney Trade Finance Survey, for the second year in succession.

The recognition for the bank by the leading industry publication came as part of a five-star showing for Mashreq. As well as once again being named Market Leader in both the UAE and wider Middle East region, Mashreq also received Best Service accolades for Africa, Pakistan, and Qatar.

Ahmed Abdelaal Group CEO, Mashreq Bank, said: “We are honored that our customers have once again recognized us as Market Leaders in the prestigious Euromoney Trade Finance Survey, coming out on top in a hugely competitive field ahead of many banks throughout the region. Our Trade Finance business continues to lead the digital transformation agenda in both customer channels and back office operational platforms by using the latest technological innovations, such as machine learning, artificial intelligence, OCR, blockchain etc.

“It is also great testament to the tireless efforts of our staff who continued to make sure our customer-first policy remained at the front and center of everything we did over the last two difficult years. This helped Mashreq Trade Finance remain resilient during the pandemic, with all key performance indicators remaining on the positive side, including customer experience.”

Despite the global uncertainty caused by the Covid pandemic, Mashreq witnessed consistent double-digit growth in our Trade Finance business for the past three years, superseding both local and global trade growth, as well as year-on-year GDP.

Mashreq continues to be a one-stop-shop for all corporate trade finance requirements, offering a full suite of products and services, with undisputed capabilities to provide bespoke trade finance solutions to meet complex customer requirements across all industry sectors, facilitated by internationally-standard products and solutions such as supplier finance, non-recourse finance, structured trade and commodity finance, positioning Mashreq ahead of the competition.

The trade finance business connects customers to business opportunities through Mashreq’s branch network and deep understanding of international trade corridors, developed over many decades, with the ability to facilitate trade across the globe leveraging Mashreq’s widespread FI network. Euromoney is renowned for its benchmark surveys, awards and ratings in the banking industry.