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Mid East Info
13-08-2025
- Business
- Mid East Info
Al Masraf Adopts Lexzur's Smart Solutions as part of the UAE's AI Strategy - Middle East Business News and Information
Abu Dhabi, 13 August 2025 – Arab Bank for Investment & Foreign Trade (Al Masraf) has signed a strategic partnership with Lexzur, a leading legal technology provider offering AI-powered solutions for end-to-end management of legal practices. This partnership reinforces Al Masraf's commitment to innovation and efficiency by automating legal processes through Lexzur's next-generation platform, an advanced evolution of the 'App4Legal' digital legal system. The AI-driven solution delivers an efficient, fully digital legal experience, providing precise, real-time guidance powered by artificial intelligence. Commenting on the collaboration, Fuad Mohamed, Chief Executive Officer of Al Masraf, said: 'We live in an AI-driven era that is transforming the way businesses operate. Our collaboration with Lexzur is part of our strategy to enhance operational efficiency across all business sectors. We are committed to leveraging AI tools effectively, fostering a dynamic and sustainable work culture that supports our long-term vision. This initiative also reflects the UAE leadership's vision to pioneer AI innovation and cement the nation's position as a global hub for advanced technologies.' Razi Heyasat, General Legal Counsel and Board Secretary at Al Masraf, added: 'Al Masraf is among the first banking institutions in the UAE to integrate AI into its legal operations, demonstrating our dedication to digital transformation. By adopting Lexa, the AI-powered legal assistant from Lexzur, we aim to enhance workflow efficiency, compliance, and transparency within our legal practice.' Feras El Hajjar, Chief Executive Officer of Lexzur, highlighted the importance of this partnership : 'Al Masraf's adoption of Lexa marks a pivotal moment in how forward-thinking organizations use AI to boost efficiency, enable data-driven decision-making, and scale sustainably over the long term. Their vision goes beyond automation, AI is central to building a sustainable future. We are proud to support Al Masraf in unlocking these capabilities through Lexa and look forward to seeing their teams seamlessly integrate this cutting-edge technology to achieve tangible business outcomes.' This partnership is fully aligned with the UAE's Artificial Intelligence and Digital Economy Strategy, which aims to integrate AI across all sectors and strengthen the nation's position as a global leader in AI. Through public-private collaboration, Al Masraf continues to support the UAE's journey toward a more innovative and sustainable future.
Web Release
13-08-2025
- Business
- Web Release
Al Masraf Adopts Lexzur's Smart Solutions as part of the UAE's AI Strategy
Arab Bank for Investment & Foreign Trade (Al Masraf) has signed a strategic partnership with Lexzur, a leading legal technology provider offering AI-powered solutions for end-to-end management of legal practices. This partnership reinforces Al Masraf's commitment to innovation and efficiency by automating legal processes through Lexzur's next-generation platform, an advanced evolution of the 'App4Legal' digital legal system. The AI-driven solution delivers an efficient, fully digital legal experience, providing precise, real-time guidance powered by artificial intelligence. Commenting on the collaboration, Fuad Mohamed, Chief Executive Officer of Al Masraf, said: 'We live in an AI-driven era that is transforming the way businesses operate. Our collaboration with Lexzur is part of our strategy to enhance operational efficiency across all business sectors. We are committed to leveraging AI tools effectively, fostering a dynamic and sustainable work culture that supports our long-term vision. This initiative also reflects the UAE leadership's vision to pioneer AI innovation and cement the nation's position as a global hub for advanced technologies.' Razi Heyasat, General Legal Counsel and Board Secretary at Al Masraf, added: 'Al Masraf is among the first banking institutions in the UAE to integrate AI into its legal operations, demonstrating our dedication to digital transformation. By adopting Lexa, the AI-powered legal assistant from Lexzur, we aim to enhance workflow efficiency, compliance, and transparency within our legal practice.' Feras El Hajjar, Chief Executive Officer of Lexzur, highlighted the importance of this partnership: 'Al Masraf's adoption of Lexa marks a pivotal moment in how forward-thinking organizations use AI to boost efficiency, enable data-driven decision-making, and scale sustainably over the long term. Their vision goes beyond automation, AI is central to building a sustainable future. We are proud to support Al Masraf in unlocking these capabilities through Lexa and look forward to seeing their teams seamlessly integrate this cutting-edge technology to achieve tangible business outcomes.' This partnership is fully aligned with the UAE's Artificial Intelligence and Digital Economy Strategy, which aims to integrate AI across all sectors and strengthen the nation's position as a global leader in AI. Through public-private collaboration, Al Masraf continues to support the UAE's journey toward a more innovative and sustainable future.
Zawya
30-04-2025
- Business
- Zawya
Al Masraf reports net profit of AED 231mln in 2024
Abu Dhabi, UAE – The Arab Bank for Investment & Foreign Trade (Al Masraf), has recently reported its Financial Results for the year ended 31 December 2024. Al Masraf posted a Net Profit of AED 231.3 million for the year 2024, compared to a net profit of AED 189.4 million in 2023 representing an increase of 22%. The growth in net profit is a result of improved operating performance on the back of a favorable asset and liability mix and higher interest rates. The customers' deposits increased to AED 16,960 million as compared to AED 14,750 million in 2023 and the Bank's Investments Portfolio increased by 71.9% to AED 6,593 million compared to AED 3,836 million in 2023. The increase was attributable to increase in the fixed income securities. As part of the active balance sheet management, the net loans and advances increased to AED 13,034 million from AED 12,901 million in the previous year, as the Bank continued to de-risk and selectively book new business. The Balance sheet remains strong with capital adequacy ratios and liquidity metrics being well ahead of the regulatory requirements. Commenting on the results, H.E. Farhat Omar Ben Gadara, Chairman of the Board of Directors, said: "We are proud of Al Masraf's robust financial performance in 2024, which reaffirms the successful execution of our ambitious strategy and the resilience of the UAE economy. Our relentless focus remains on delivering tailored banking products and services, leveraging cutting-edge technology to enhance customer experience and operational efficiency." He further added: 'We look ahead to 2025 with confidence and optimism, buoyed by promising growth opportunities across key economic sectors. Our digital transformation, operational excellence, and sustainable growth strategies will further solidify value creation for our shareholders." Fuad Mohamed, CEO of Al Masraf, commented: "These results demonstrate our steadfast progress toward sustainable growth. We will continue to prioritize revenue diversification, customer-centric solutions, and investments in digital innovation—all while elevating the client experience." Credit Rating Update Fitch Ratings affirmed Al Masraf's long-term Issuer Default Rating (IDR) at 'A' with a Stable Outlook, and its Viability Rating at 'b+'.
Mid East Info
30-04-2025
- Business
- Mid East Info
Al Masraf Reports Net Profit of AED 231mln in 2024 Representing an Increase of 22% - Middle East Business News and Information
Abu Dhabi, UAE, 30 April 2025 – The Arab Bank for Investment & Foreign Trade (Al Masraf), has recently reported its Financial Results for the year ended 31 December 2024. Al Masraf posted a Net Profit of AED 231.3 million for the year 2024, compared to a net profit of AED 189.4 million in 2023 representing an increase of 22%. The growth in net profit is a result of improved operating performance on the back of a favorable asset and liability mix and higher interest rates. The customers' deposits increased to AED 16,960 million as compared to AED 14,750 million in 2023 and the Bank's Investments Portfolio increased by 71.9% to AED 6,593 million compared to AED 3,836 million in 2023. The increase was attributable to increase in the fixed income securities. As part of the active balance sheet management, the net loans and advances increased to AED 13,034 million from AED 12,901 million in the previous year, as the Bank continued to de-risk and selectively book new business. The Balance sheet remains strong with capital adequacy ratios and liquidity metrics being well ahead of the regulatory requirements. Commenting on the results, H.E. Farhat Omar Ben Gadara, Chairman of the Board of Directors, said: 'We are proud of Al Masraf's robust financial performance in 2024, which reaffirms the successful execution of our ambitious strategy and the resilience of the UAE economy. Our relentless focus remains on delivering tailored banking products and services, leveraging cutting-edge technology to enhance customer experience and operational efficiency.' He further added: 'We look ahead to 2025 with confidence and optimism, buoyed by promising growth opportunities across key economic sectors. Our digital transformation, operational excellence, and sustainable growth strategies will further solidify value creation for our shareholders. ' Fuad Mohamed, CEO of Al Masraf, commented: 'These results demonstrate our steadfast progress toward sustainable growth. We will continue to prioritize revenue diversification, customer-centric solutions, and investments in digital innovation—all while elevating the client experience.' Credit Rating Update Fitch Ratings affirmed Al Masraf's long-term Issuer Default Rating (IDR) at 'A' with a Stable Outlook, and its Viability Rating at 'b+'.
