Mashreq Bank CEO Abdul Aziz Al Ghurair talks about his focus on innovation, support of SMEs, and customer centricity; and the bank’s emphasis on growth within the Gulf Cooperation Council.
February 16, 2016 | Farrah BrakeChief executive officer of Mashreq Bank, chairman of the UAE Banks Federation and business owner, His Excellency Abdul Aziz Al Ghurair views himself as an entrepreneur at heart. In his various roles he recognises the importance of an entrepreneurial spirit, “I come from a business family and we’re entrepreneurs, but the scale has changed. This bank was established in 1967 and will soon be 50. We’re the second oldest bank in the UAE. Every single business we have today started from scratch, so we’re really businessmen and entrepreneurs,” he said.
The rise of SMEs in UAE
The Al Ghurair Group was founded in 1960 by Ahmad Al Ghurair and for 55 years, the name has been at the centre of the UAE business community. Mashreq Bank began a few years later with $1.6 million worth of investment capital and was the first bank in the country to introduce ATM machines and credit cards. Although Mashreq is largely a corporate bank, it is one of the top five retail banks in the country and has taken strides to support local small and medium sized businesses under Al Ghurair’s leadership. This is because “we feel it is our duty to encourage small and medium businesses as they are quick to start up, can generate employment very quickly, and have an impact on the GDP of the nation. They can move faster so there is more focus on them from the banks and government. We play a role in funding their business.”
Mashreq Bank’s strategy for the SME segment is to be the preferred partner for the SME client from the time of incorporation. The bank’s emphasis on technology in serving the retail segment has transcended into the SME segment and it offers a full product suite designed for SMEs, including self-employed personal loans, merchant overdraft, foreign exchange solutions, trade services and insurance. Products like self-employed personal loans and business insurance provide flexibility and convenience for the customer.
In a...
Categories:
Transaction BankingKeywords:Mashreq, Innovation, SME, Customer Centricity, SMEXchange
Mashreq Bank CEO Abdul Aziz Al Ghurair talks about his focus on innovation, support of SMEs, and customer centricity; and the bank’s emphasis on growth within the Gulf Cooperation Council.
February 16, 2016 | Farrah BrakeChief executive officer of Mashreq Bank, chairman of the UAE Banks Federation and business owner, His Excellency Abdul Aziz Al Ghurair views himself as an entrepreneur at heart. In his various roles he recognises the importance of an entrepreneurial spirit, “I come from a business family and we’re entrepreneurs, but the scale has changed. This bank was established in 1967 and will soon be 50. We’re the second oldest bank in the UAE. Every single business we have today started from scratch, so we’re really businessmen and entrepreneurs,” he said.
The rise of SMEs in UAE
The Al Ghurair Group was founded in 1960 by Ahmad Al Ghurair and for 55 years, the name has been at the centre of the UAE business community. Mashreq Bank began a few years later with $1.6 million worth of investment capital and was the first bank in the country to introduce ATM machines and credit cards. Although Mashreq is largely a corporate bank, it is one of the top five retail banks in the country and has taken strides to support local small and medium sized businesses under Al Ghurair’s leadership. This is because “we feel it is our duty to encourage small and medium businesses as they are quick to start up, can generate employment very quickly, and have an impact on the GDP of the nation. They can move faster so there is more focus on them from the banks and government. We play a role in funding their business.”
Mashreq Bank’s strategy for the SME segment is to be the preferred partner for the SME client from the time of incorporation. The bank’s emphasis on technology in serving the retail segment has transcended into the SME segment and it offers a full product suite designed for SMEs, including self-employed personal loans, merchant overdraft, foreign exchange solutions, trade services and insurance. Products like self-employed personal loans and business insurance provide flexibility and convenience for the customer.
In a...
Categories:
Transaction BankingKeywords:Mashreq, Innovation, SME, Customer Centricity, SMEXchange
