UAE’s Mashreq Bank has expanded its global footprint by opening of a representative office in Turkiye.
The Dubai-headquartered company has had a long relationship with Turkish financial institutions and corporates. It is one of the largest and most active correspondent banks operating in the country and has played a vital role in channeling risk capacity and capital flows.
Mashreq is also a leading Bookrunner on key bond transactions by Turkish borrowers, including capital issuances for prominent Turkish banks and facilitated access for them to global capital markets.
Mashreq inaugurates Turkiye office
The representative office in Turkiye marks Mashreq’s operational presence in 15 countries globally.
Ahmed Abdelaal, Group Chief Executive Officer at Mashreq, commented: “Our expansion into Turkiye reflects Mashreq’s ongoing commitment to building a truly global banking network that connects key economic corridors.
“Turkiye’s strategic location, dynamic economy, and strong trade and investment ties with the UAE present significant opportunities for collaboration. This strategic milestone strengthens our ability to support clients in the country and the broader region with world-class financial solutions, while advancing our vision for sustainable and diversified growth.”
Joel Van Dusen, Group Head of Corporate and Investment Banking at Mashreq, added: “Establishing a representative office in Turkiye reinforces our commitment to supporting a wide spectrum of clients in one of the region’s most dynamic and strategically important markets.
“This on-the-ground presence enables us to deliver more responsive, tailored solutions across trade finance, capital markets, and treasury services. Leveraging Mashreq’s digital-first infrastructure and global expertise, we are well-positioned to facilitate cross-border trade, enhance capital access, and contribute meaningfully to Turkiye’s financial ecosystem.”
Turkiye ranks among the top three manufacturing hubs in Europe and plays a critical role in regional supply chains. Bilateral trade volumes with the UAE exceeding US$20 billion in 2024, and is expected to double to US$40 billion by 2031 following the signing of Comprehensive Economic Partnership Agreement (CEPA) between the two countries in 2023.
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