Correspondent | The News Bulletins
• Branch expected to offer Foreign Currency Loans, Trade Finance, and Treasury Solutions (subject to completion of all regulatory requirements)
• Strategic presence to reinforce the UAE-India Financial Corridor
Ahmedabad, India, 10 October 2025 – Mashreq, one of the leading financial institutions in the MENA region, today announced the operational readiness of its International Financial Services Centre Banking Unit (IBU) at Gujarat International Finance Tec-City (GIFT City), pending completion of regulatory requirements.
The branch will offer a comprehensive suite of Foreign Currency Loans, Trade Finance, and Treasury Solutions, marking a strategic milestone that fortifies Mashreq’s role as a catalyst for cross-border financial integration and deepens the India- Middle East Financial Corridor.
This achievement represents a pivotal advancement in Mashreq’s international growth strategy and reaffirms its commitment to fostering seamless trade and investment flows between two of the region’s most dynamic economies. In July 2025, Mashreq became the first UAE-based bank to secure In-Principle Approval from the relevant Indian regulator, underscoring the bank’s pioneering position in expanding its global footprint.
Ahmed Abdelaal, Group CEO of Mashreq, stated:
“The operational readiness of our GIFT City branch marks a pivotal step in advancing the India–Middle East corridor — one of the world’s most dynamic and rapidly evolving economic linkages. As trade, capital, and innovation increasingly flow between our regions, Mashreq is committed to being at the forefront of this transformation by providing seamless cross-border financial solutions, fostering investment connectivity, and enabling our clients to capitalize on the immense potential of this corridor.
Tarek El Nahas, Group Head of International Banking of Mashreq, said:
“The establishment of our Mashreq GIFT City branch builds on the bank’s decades-long presence in India. India has grown into one of our largest international operations within our global network. The new GIFT City branch further enhances Mashreq’s ability to deliver integrated corridor banking solutions spanning the GCC, Africa, Asia, Europe, and the Americas.”
Tushar Vikram, Chief Executive Officer, Mashreq India, added:
“The readiness of our GIFT City office deepens our engagement with India’s growing financial ecosystem. We are committed to leveraging our technology-led banking expertise to support India’s growing role as a hub for international financial activity and contribute meaningfully to the vision of ‘Viksit Bharat’ under the Hon’ble Prime Minister’s leadership.”
With infrastructure and key personnel in place, Mashreq is positioning itself to support cross-border business expansion for clients in India and the GCC, while also offering efficient transaction turnaround through its strategic location in a unified time zone.
Mashreq remains committed to bridging opportunities between India, the UAE, and other key corridors in the Middle East and beyond, enabling businesses to benefit from streamlined financial services, innovative digital banking, and a shared vision for sustainable growth across both nations.