Dubai-based Mashreq Bank is opening its representative office in Shanghai as part of strategic moves to expand its presence and operations in China.
The Shanghai representative office will serve as a liaison office, with the core goal of developing Mashreq’s franchise in mainland China.
The lender stated in a release that the office is expected to function as a key link through which Middle Eastern companies with trade and investment flows into China can connect and partner with Chinese firms that are seeking opportunities to leverage Mashreq’s existing international banking footprint.
“The office enables us to leverage our insights of the MENA region for our stakeholders, as well as provide invaluable on-the-ground knowledge of China’s economic and banking landscape. We are proud of this milestone and look forward to exploring opportunities to further expand in the future,” Abdelaal added.
Following this most recent addition, the number of locations where Mashreq has its operations has now increased to 13 countries. This includes the UAE which is noted as China’s largest non-oil trading partner in the MENA region.
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