Dubai, UAE; 25 June 2025: Mashreq, a leading financial institution in the MENA region, has announced the opening of its new representative office in Türkiye. This expansion emphasizes Mashreq’s commitment to supporting Turkish financial institutions and corporations, enhancing its operational presence to a total of 15 countries.

As one of the largest correspondent banks in Türkiye, Mashreq has been instrumental in facilitating capital flows and risk capacity for Turkish banks and companies. The bank has also acted as a leading Bookrunner on significant bond transactions for Turkish borrowers, which highlights its role as a strategic partner in connecting Türkiye with global capital markets.

The opening of the Türkiye office follows increased collaboration between Mashreq and major Turkish institutions in areas such as syndicated loans, trade finance, and capital markets. This move aligns with Mashreq’s regional growth strategy and its broader initiative to expand its global footprint.

Ahmed Abdelaal, Group Chief Executive Officer at Mashreq, stated that the bank’s expansion into Türkiye reflects a commitment to creating a global banking network that connects vital economic corridors. He noted that Türkiye’s strategic location and robust economy offer substantial opportunities for partnership. Abdelaal emphasized that this milestone enhances Mashreq’s ability to provide clients in Türkiye and the surrounding region with high-quality financial solutions.

In 2024, the bilateral trade volume between the UAE and Türkiye surpassed US$20 billion. Following the Comprehensive Economic Partnership Agreement signed in 2023, non-oil trade is expected to grow significantly, with a target of reaching US$40 billion by 2031. Türkiye’s position as one of Europe’s top manufacturing hubs further solidifies its significance in regional supply chains.

Joel Van Dusen, Group Head of Corporate and Investment Banking at Mashreq, remarked that the representative office in Türkiye will allow the bank to better serve a diverse range of clients in this strategically important market. He highlighted that the local presence will enable Mashreq to offer more responsive and tailored services in trade finance, capital markets, and treasury services, thereby enhancing access to capital and supporting Türkiye’s financial ecosystem.

The establishment of the Türkiye Representative Office is a significant step in Mashreq’s international journey, reinforcing its commitment to expanding its operational capabilities globally.