Mashreq Bank, a leading financial institution in the region, has launched its ‘Cashback Campaign’ for Business Banking clients, with the aim of rewarding entrepreneurs for growing their deposit balances.

From July 1 until September30, Mashreq’s business banking customers can earn up to Dh25,000 ($6,800) in cashback rewards for growing their balance. For every Dh 50,000 growth in deposits, customers will be eligible to receive cash back.

Rohit Garg, head of Business Banking, Mashreq Bank commented: “Mashreq is committed to supporting the sustainable and steady growth of UAE businesses. The SME sector resiliently proves to be the backbone of the country’s economy, representing approximately 90 per cent of its registered companies, and given the current economic landscape, we feel the need to be more innovative than ever to reward business owners for healthy financial behaviour. The Cashback campaign has a clear goal of incentivizing customers for their banking relationship with Mashreq.”

The announcement is aligned to Mashreq’s ongoing vision of becoming the trusted partner of SMEs in the UAE, offering them a rewarding, innovative and digital-led banking experience, a statement said.

In 2017, the bank built a customized SME banking platform, complete with multiple channels, including an app called SnappBiz catering to small businesses. SnappBiz enables SMEs to transfer funds, check balances, apply for cheque books, pay bills and obtain special foreign exchange deals while on the move. – TradeArabia News Service