Finance & Capital Market

Mashreq Bank marks 50 years in business

Mashreq Bank, the oldest privately owned bank in the UAE, marked its 50 years in business with its senior executives planting 50 national trees in association with Goumbook, a top social enterprise promoting sustainability.

Abdul Aziz Al Ghurair, chief executive officer of Mashreq Bank, said: “Celebrating our 50 year anniversary is a recognition of our history and achievements to date. As the oldest bank in the UAE, we have been here since the beginning, and have seen the country rapidly develop.

“Similar to the UAE’s own evolution, the development of Mashreq Bank has also been truly remarkable. To express our pride in being a homegrown bank, we are celebrating our 50 year anniversary by giving back to the community that has been supportive to enabling our success. With 50 years of success behind us, we are excited about the future and the important role we will continue to play in contributing to the development of the UAE.”

Capable of growing in even the harshest desert climate, the Ghaf tree is the UAE’s national tree and is a symbol of tolerance, sturdiness and stability. It doesn’t require much water and is able to capture 35 kg of carbon dioxide a year. The Ghaf tree is reflective of Mashreq Bank’s own spirit, capabilities and potential to grow, even in uncertain economic times, a statement said.

Over the years, Mashreq Bank has remained committed to not only growing and strengthening its legacy, but contributing to community development through CSR initiatives, such as the Goumbook’ s Give a Ghaf Tree Planting Program.

The bank’s initiative also directly supports the UAE’s ‘Year of Giving’, inaugurated by President Sheikh Khalifa bin Zayed Al Nahyan, by encouraging and motivating others to give back to the community.

Mashreq Bank’s branch network extends across the UAE, with one in every two households banking with Mashreq Bank. It also has 12 overseas offices in nine countries, including Europe, the US, Asia and Africa.  – TradeArabia News Service