Mashreq partners with Bank of China
Dubai, May 12, 2011
Mashreq, one of the UAE’s leading financial institutions, has signed an exclusive agreement with Bank of China to establish a ‘China Desk’ in the UAE.
Representatives from Bank of China and Mashreq will operate the desk. It will offer corporate banking solutions to Chinese companies and organisations operating in the Gulf region, and UAE companies looking to do business in China.
The primary objective of the partnership is to assist Chinese companies in expanding their footprint overseas as well as local investors looking to make their mark in China.
“We believe that establishing a China Desk in the Middle East will enable us to facilitate cross-border activities with Chinese and local companies alike,” said John Iossifidis, head of International Banking Group at Mashreq.
Mashreq will offer Chinese companies a range of products and services including account services, trade finance facilities, and advisory service concerning the local industrial and legal framework.-TradeArabia News Service