One of the UAE’s best performing banks for over five decades, Mashreq is a leading financial institution with an expanding footprint across the Middle East with a strong presence in the financial capitals of the world with international offices in Europe, Asia, Africa and the US. Mashreq Bank was founded in Dubai, in 1967, and can be traced to humble origins as the oldest bank in the UAE. In 2020 alone, the bank received a number of awards that included, the ‘Most Innovative Bank in the Middle East’ from Euromoney.
Overview of the basic services:
- Online Banking & Mobile banking in English
- Bank accounts in AED, USD, GBP
- Personal and business accounts for local companies (saving & current accounts)
- Bank cards
Required documentation for a bank account opening with Mashreqbank:
1. Business account:
- Сompleted bank questionnaires for the company and owner;
- Bank statements from the company account for the last 6 months (if the company is new, then bank statements from the owner’s other company account);
- Copies of existing contracts with partners;
- Office lease contract, cash flow chart, ownership structure chart, etc.
2. Personal account:
- Proof of identity (passport);
- Proof of address (not older than 3 months);
- Resident Visa;
- CV;
- Bank reference letter + bank statements for the last 6 months.
Remote account opening:
- Not available
Deposit/account opening terms:
- No application fee
- Minimum average monthly account balance: 550.000 AED
- No activation deposit
Required time to open an account:
- Estimated account opening 2-3 months
Website:
Fees & rates:
Our assistance services:
Companies under our administration
- 1.000 USD
Other companies
- + 20%
