Mashreq and Dubai International Financial Centre (DIFC) have formalised a partnership aimed at introducing new digital processes in financial services and expanding support for wealth management and family businesses in Dubai, UAE.
The memorandum of understanding (MoU) will focus on rolling out digital onboarding and banking solutions for clients operating within DIFC, with the intention of making account opening and access to services more straightforward for family offices and private wealth structures.
As part of their cooperation, they plan to encourage growth in venture building and fintech activity, strengthening DIFC in technology-driven financial services.
The arrangement will also cover the development of specific offerings designed for international companies, small businesses, wealthy families, and entrepreneurs.
Mashreq Group CEO Ahmed Abdelaal said: “Our collaboration with DIFC reflects a shared vision to drive innovation, enhance digital access, and strengthen the ecosystem for international investors, strengthen family wealth capabilities, and empower high-potential businesses and investors to succeed with DIFC as their global home.
“Together, we aim to advance a future-ready financial ecosystem that unlocks growth, enhances global connectivity, and reinforces Dubai’s position as a destination for long-term prosperity and innovation.”
The agreement includes provisions to support cross-border capital flows between Dubai and economic regions such as India, Egypt, China, Hong Kong, the UK, and the GCC.
Both parties are considering new approaches relating to digital financing, property technology (PropTech), advisory services for wealth management, family governance matters, and potentially the launch of Mashreq’s own private banking and insurance units within DIFC.
The collaboration will cover areas such as digital finance innovation, private banking, insurance solutions, family business governance, succession planning, financial structuring, and advisory services for future generations.
Mashreq is also set to work with the DIFC Family Wealth Centre (DFWC) on developing governance frameworks, succession strategies, tax planning options, and family charters that address the requirements of high-net-worth individuals and families.
This MoU intend to continue joint initiatives focused on improving market access and supporting the needs of global investors and family enterprises based in Dubai.
DIFC Authority CEO Arif Amiri said: “DIFC is driving collaboration with partners like Mashreq to be catalysts for growth across key pillars of the Dubai Economic Agenda (D33), including financial services, technology and innovation, and family wealth.
“By combining our strengths, we will create new opportunities for financial institutions, family offices, and entrepreneurs to thrive in Dubai, leveraging our world-class legal and regulatory environment and Mashreq’s banking expertise. This partnership will further differentiate Dubai as the leading financial city in the Middle East, Africa and South Asia.”
