The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms & Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.
Middle East's Best Bank Awards

Regional: Best Transaction Bank 2021

Mashreq Bank

One of the banks that had a good Covid-19 crisis is UAE-based Mashreq Bank.

No one would say the pandemic was a good thing, least of all Mashreq chief executive Ahmed Abdelaal and his team. But if ever there were a tech-savvy institution ready for a once-in-a-generation pandemic that forces clients, old and new, to bank from home, it’s ever-evolving Mashreq Bank.

A paradox, perhaps, as the 54-year-old bank is one of the oldest in the land. But in 2020, as disruption became unavoidable, Mashreq lived up to the claims that its heritage is intimately linked with the creation of a modern, outward-facing UAE.

It did not have to sprint to raise its digital game, as so many of its peers did.

Mashreq holds many firsts in the Gulf Cooperation Council region. It was first to launch world-class ATM services, credit cards, corporate cash and cheque deposit machines; telebanking capabilities; student-centric transaction centres; chat-box customer interface systems; fully-automated bank branches; green energy mobile ATM offerings; Alipay in the UAE; and mobile-banking units for international investment.

But chatting with Mashreq management can be disorienting in another way: is it based in Silicon Valley or Dubai?

Case in point: hiring Ellis Wang in March 2020 as its chief head of technology, transformation and information, the idea being that since 1967, Mashreq has perfected banking.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree