Mashreq Bank was founded as the Bank of Oman in 1967 and is one of the oldest privately owned banks in the UAE.
Mashreq has over 12 overseas offices in 9 different countries around the world. It employs close to 4,000 people and have around AED 2.9 trillion of assets under management.
It provides banking services, loans, investment banking, corporate financing and other investment advisory services, including wealth management.
Mashreq Private Bank is regulated by the UAE Central Bank.
As the oldest regional private banking specialists, Mashreq Private Bank claims to have extensive experience servicing the unique needs of their private clients.
Mashreq Private Bank has a unique banking model with the client at the centre of it all. This can be summarised below:
Investment advisors: create and review portfolios based on client needs.
|Customer service managers: Support private clients day to day needs and requests.|
FX specialists: handle all FX requirements like futures, margin trading and hedging.
|Trade specialists: Handle all trade needs like bank guarantees to ensure smooth execution.|
Mashreq Private Bank claim to understand that every client has unique needs and try to tailor their banking and investment solutions to fit each individual.
Mashreq's investment process mainly consists of 5 steps:
Here is an overview of some of the other banking and financing options provided by Mashreq Private Bank:
We would highly recommend reading the 'expert verdict' section of this review to make an informed financial decision.
Additionally, here's a free guide that can help you achieve better results. In this guide, you'll learn:
Mashreq Private Bank charges an annual membership fee of USD 1,200 if the client is a UAE resident and USD 3,600 if the client is a non-resident or a company.
You can find the full private banking charging schedule in the documents section of this review.
The main investment options provided by Mashreq Private Bank include:
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Mashreq is more of a local bank than a great option for senior international professionals.
With Mashreq private banking, you are assigned an account manager, rather than a private banking specialist. In financial services, this typically means fewer qualifications and the likelihood you are working with a salesperson rather than a fiduciary who has your best interests at heart.
If you are already a private banking client of Mashreq, we would recommend a no-obligation Second Opinion to ensure you are on track to reach your ideal future.
Additionally, we are happy to review the financial plan that has led to the investment portfolio you currently have.