Mashreq, a leading financial institution in the MENA region, has officially opened its representative office in Türkiye, deepening its engagement with Turkish financial institutions and corporates. The move marks a significant milestone in Mashreq’s international expansion and underscores its strategic focus on enhancing regional and global connectivity.
The new office strengthens Mashreq’s position as a key partner in Türkiye, where the bank has long been a major player in correspondent banking, syndicated loans, and capital market activities. The bank has also served as a leading bookrunner for several high-profile bond transactions by Turkish borrowers, including prominent capital market issuances by Turkish banks.
The decision to establish an on-the-ground presence in Türkiye follows a period of accelerated collaboration with Turkish institutions across trade finance, payments, treasury services, and investment banking. Mashreq’s expansion supports its broader mission of connecting key global economic corridors through sustainable, technology-driven financial solutions.
Ahmed Abdelaal, Group CEO of Mashreq, said:
“Our expansion into Türkiye reflects Mashreq’s ongoing commitment to building a truly global banking network that connects key economic corridors. Türkiye’s strategic location, dynamic economy, and strong trade and investment ties with the UAE present significant opportunities for collaboration.”
Türkiye and the UAE enjoy robust economic relations, with bilateral trade volumes surpassing US$20 billion in 2024. Under the Comprehensive Economic Partnership Agreement (CEPA) signed in 2023, non-oil trade is expected to rise significantly—targeting US$40 billion by 2031. Türkiye is also among Europe’s top manufacturing hubs and plays a central role in regional supply chains.
Mashreq’s expansion into Türkiye brings its global footprint to 15 countries, enhancing its ability to deliver cross-border financial solutions in an increasingly interconnected economic landscape.
Joel Van Dusen, Group Head of Corporate and Investment Banking at Mashreq, added:
“Establishing a representative office in Türkiye reinforces our commitment to supporting a wide spectrum of clients in one of the region’s most dynamic and strategically important markets. This on-the-ground presence enables us to deliver more responsive, tailored solutions.”
Mashreq aims to leverage its digital-first infrastructure and global banking expertise to support capital access and trade flows between Türkiye and international markets. The new office will enable faster, more customized service for Turkish clients and further embed Mashreq in the country’s financial ecosystem.
As Türkiye continues to position itself as a regional financial and manufacturing hub, Mashreq’s entry comes at a pivotal time—adding value through global capital market access, advanced trade finance services, and a commitment to long-term, sustainable economic growth.
