UAE-based Mashreq, a leading financial institution, has signed a Memorandum of Understanding with Emirates Group, enabling processing of applications for retail products without paper based documentation.

The signing ceremony was attended by Tooran Asif, head of Personal Loans at Mashreq and Hussain Shaikh, vice president HR Employee Services, The Emirates Group along with other senior management members.

The partnership enables Emirates Group staff to use e-letter functionality. Emirates Group staff can now apply for a salary transfer letter or salary certificate by applying through their HR online portal and a reference number will be generated for the same.

Simultaneously, that reference is sent to Mashreq’s frontline officers and the customer can approach a branch or Call Centre and will instantly receive a product or a service.

“We are pleased to partner with UAE’s and the world’s  leading carrier Emirates to offer its employees a far better banking experience – one that is convenient , instant and paperless,” said Asif.

“Our endeavour at Mashreq is to deliver a financial services proposition with a cutting edge experience. Great innovation sometimes comes in very simple yet effective technology enabled processes.”

Hussain Shaikh said: “We are extremely happy that Mashreq has joined our innovative e-letter initiative. This will now enable our staff banking with Mashreq to get their bank related letters transferred electronically, in a secure encrypted format, directly to the bank, cutting down transaction time.

“The e-letter initiative provides our employees with an easier and more convenient way of accessing their banking requirements. We look forward to more banks joining us to avail this innovative service.” – TradeArabia News Service