Dubai, United Arab Emirates: Mashreq Bank, the UAE’s leading financial institution, has established a USD 1 billion multi-currency Certificate of Deposit Programme (CD programme) in Hong Kong.

The CD programme, which aims to provide access to new liquidity pools in Asia-Pacific, is offered in multiple currencies.

The launch of the programme highlights Mashreq’s growth in Asian markets given the positive momentum seen in UAE-China bilateral relations as a result of China’s Belt and Road initiatives.

The CD programme has been assigned a short term rating of P-2 by Moody’s Investor Relations, and will help Mashreq raise funds in USD, EUR, and Asian currencies, including RMB when needed.

“Mashreq Bank has been raising its profile in the region for some time now. We first established a presence in Hong Kong in 1978 and have been steadily growing in recent years. The introduction of this CD programme will entice more institutional investors across Asia Pacific to consider Mashreq as a serious partner for their operations in the region.” said, Jan- Willem Sudmann, Head of International Banking Group, Mashreq.

Mashreq has a rating of A from Fitch Ratings Limited ("Fitch"), a rating of Baa1 from Moody's Investors Service Ltd ("Moody's") and a rating of BBB+ from Standard & Poor's Credit Market Services Europe Limited ("S&P") putting them in a good position to launch its multi-currency CD programme in Asia.

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About Mashreq:

Established in 1967, Mashreq is the oldest privately held Bank in the UAE with award winning financial solutions and services. Throughout its 50 years' history, Mashreq has differentiated itself through innovative financial solutions, making it possible for its customers to achieve their aspirations. Today, Mashreq has a significant presence in 11 countries outside the UAE with 21 overseas branches and offices across Europe, USA, Asia and Africa. 

Mashreq launched its new Vision and Mission recently, outlining its commitment towards its clients, colleagues and the community. In line with its new Vision to be the region's most progressive bank, Mashreq leverages its leadership position in the banking industry to enable innovative possibilities and solutions for its customers across Corporate, Retail, International, Treasury and Islamic Banking. Mashreq is proud to be the first financial institution in the UAE to be awarded the Gallup Great Workplace Award for four consecutive years from 2014-2017. Mashreq also continues to invest in recruiting, training and developing future generations of UAE National bankers. 

© Press Release 2018