Mashreq, a leading financial institution in the MENA region, has signed a Memorandum of Understanding (MoU) with the Dubai International Financial Centre (DIFC). The partnership aims to accelerate digital transformation, enhance client experiences, and strengthen private wealth solutions, reinforcing Dubai’s position as a global hub for finance, innovation, and family wealth.
Under the agreement, Mashreq will work with DIFC to introduce advanced digital onboarding and banking solutions for DIFC-based clients. This includes integrating technology-driven efficiencies to simplify account opening and improve access to financial services, particularly for family offices and private wealth structures.
The collaboration will also focus on promoting venture building and fintech engagement to advance DIFC’s technology ecosystem, driving innovation in financial services, fintech, and digital insurance.
Targeting key global corridors and family wealth
From an international perspective, the partnership will focus on enabling capital flows and commercial corridors across key markets, including India, Egypt, China, Hong Kong, the UK, and the GCC. It will also explore digital financing, PropTech opportunities, and the potential launch of Mashreq’s private banking and insurance entities within the DIFC framework.
A key component of the MoU is enhancing services for the family wealth sector. Mashreq will collaborate with the DIFC Family Wealth Centre (DFWC) to develop bespoke solutions for governance, succession planning, tax optimisation, and family charters, tailored to the needs of high-net-worth individuals (HNWIs) and their families.
His Excellency Arif Amiri, chief executive officer of DIFC Authority, said: “DIFC is driving collaboration with partners like Mashreq to be catalysts for growth across key pillars of the Dubai Economic Agenda (D33), including financial services, technology and innovation, and family wealth. By combining our strengths, we will create new opportunities for financial institutions, family offices, and entrepreneurs to thrive in Dubai, leveraging our world-class legal and regulatory environment and Mashreq’s banking expertise.”
Creating a future-ready financial ecosystem
The MoU reflects a shared vision to advance Dubai’s role as a global destination for digital wealth and innovation. Clients within the DIFC ecosystem will benefit from simplified onboarding, priority processing for referred applications, seamless banking access, and enhanced wealth advisory support.
Ahmed Abdelaal, group chief executive officer at Mashreq, said: “Mashreq is committed to advancing Dubai’s role as a global hub for finance, wealth, and enterprise. Our collaboration with DIFC reflects a shared vision to drive innovation, enhance digital access, and strengthen the ecosystem for international investors… Together, we aim to advance a future-ready financial ecosystem that unlocks growth, enhances global connectivity, and reinforces Dubai’s position as a destination for long-term prosperity and innovation.”
By combining Mashreq’s financial expertise with DIFC’s legal and regulatory framework, the partnership aims to create an integrated ecosystem where investors, family offices, and businesses can operate with “clarity, confidence, and scale.”
