Latest news with #Mashreq
Zawya
a day ago
- Business
- Zawya
Mashreq appoints Xi Liang as head of Artificial Intelligence
Dubai, UAE: Mashreq, a leading financial institution in the MENA region, is pleased to announce the appointment of Xi Liang as its new Head of Artificial Intelligence. In her role, Xi will spearhead Mashreq's AI strategy, driving innovation and embedding advanced AI capabilities to enhance customer experience, operational efficiency, and the bank's competitive edge. A visionary AI executive with over 15 years of experience across banking, retail, healthcare, and consulting, Xi specializes in building responsible, scalable AI systems that deliver tangible business outcomes. Her career includes leadership roles at Judo Bank and Endeavour Group, advisory work at McKinsey & Company, and foundational AI research at IBM, where she was awarded four patents and published in top-tier journals. Commenting on Xi's appointment, Mohamed Abdel Razek, Group Head of Transformation, Technology, and Information at Mashreq, said: 'We are pleased to welcome Xi to Mashreq at a pivotal moment in our AI journey. Her exceptional expertise in developing enterprise-scale AI solutions, combined with her commitment to ethical and explainable AI, will play a critical role in strengthening our technology leadership. Xi's experience in driving innovation and building world-class AI teams aligns perfectly with our vision to deliver transformative banking experiences for our clients.' In her new role, Xi will lead the development and implementation of Mashreq's AI initiatives across all business units. This includes advancing generative AI, intelligent automation, and enterprise-wide AI adoption, ensuring alignment with business priorities and regulatory requirements. Xi Liang, Head of Artificial Intelligence at Mashreq, added: 'I am excited to join Mashreq, an organization renowned for its culture of innovation and ambition to lead in digital banking. Together, we have a unique opportunity to harness the power of AI to create meaningful, customer-centric solutions while setting new standards for responsible AI in financial services. I look forward to collaborating with Mashreq's talented teams to drive the next wave of intelligent transformation.' Xi holds a PhD in Engineering from the University of Melbourne, where her research contributed to advancements in machine learning and AI applications. She also earned a Bachelor's degree in Computer Science from the same institution and holds multiple certifications in cloud computing, AI governance, and data science from leading global providers. Mashreq welcomes Xi Liang to its team and is confident that her expertise will be instrumental in shaping the bank's AI strategy and driving sustainable innovation in the financial industry. About Mashreq Mashreq is almost a half-century old, yet proudly thinks like a challenger, startup, and innovator. Mashreq pioneered key innovations and developments in banking, starting with entry-level digital-first customers all the way to powering some of the region's most prominent corporations and wealth accounts. The bank's mandate is to help customers find their way to Rise Every Day, partnering through the highs and lows to help them achieve their goals and unlock their vision of success. Reassuringly present in major financial centres of the world, Mashreq's home and global HQ remains in the Middle East, offering services whenever and wherever opportunity takes its customers. Mashreq has been recognized as the fastest-growing Middle East brand, by Banking 500 rankings for 2024 by Brand Finance. Find your way to Rise Every Day at: For media inquiries, please write to: media@
Al Bawaba
a day ago
- Business
- Al Bawaba
Mashreq Appoints Xi Liang as Head of Artificial Intelligence
Mashreq, a leading financial institution in the MENA region, is pleased to announce the appointment of Xi Liang as its new Head of Artificial Intelligence. In her role, Xi will spearhead Mashreq's AI strategy, driving innovation and embedding advanced AI capabilities to enhance customer experience, operational efficiency, and the bank's competitive edge.A visionary AI executive with over 15 years of experience across banking, retail, healthcare, and consulting, Xi specializes in building responsible, scalable AI systems that deliver tangible business outcomes. Her career includes leadership roles at Judo Bank and Endeavour Group, advisory work at McKinsey & Company, and foundational AI research at IBM, where she was awarded four patents and published in top-tier on Xi's appointment, Mohamed Abdel Razek, Group Head of Transformation, Technology, and Information at Mashreq, said: 'We are pleased to welcome Xi to Mashreq at a pivotal moment in our AI journey. Her exceptional expertise in developing enterprise-scale AI solutions, combined with her commitment to ethical and explainable AI, will play a critical role in strengthening our technology leadership. Xi's experience in driving innovation and building world-class AI teams aligns perfectly with our vision to deliver transformative banking experiences for our clients.'In her new role, Xi will lead the development and implementation of Mashreq's AI initiatives across all business units. This includes advancing generative AI, intelligent automation, and enterprise-wide AI adoption, ensuring alignment with business priorities and regulatory Liang, Head of Artificial Intelligence at Mashreq, added: 'I am excited to join Mashreq, an organization renowned for its culture of innovation and ambition to lead in digital banking. Together, we have a unique opportunity to harness the power of AI to create meaningful, customer-centric solutions while setting new standards for responsible AI in financial services. I look forward to collaborating with Mashreq's talented teams to drive the next wave of intelligent transformation.'Xi holds a PhD in Engineering from the University of Melbourne, where her research contributed to advancements in machine learning and AI applications. She also earned a Bachelor's degree in Computer Science from the same institution and holds multiple certifications in cloud computing, AI governance, and data science from leading global providers. Mashreq welcomes Xi Liang to its team and is confident that her expertise will be instrumental in shaping the bank's AI strategy and driving sustainable innovation in the financial industry.
Khaleej Times
6 days ago
- Business
- Khaleej Times
Mashreq launches NEO PLUS Saver account for salary and non-salary customers with UAE's most rewarding savings interest rates
The launch further strengthens Mashreq's position as a digital banking pioneer and reinforces its role in shaping the future of personal finance in the UAE Mashreq, a leading financial institution in the MENA region, has unveiled the NEO PLUS Saver Account – a high interest savings product designed to empower both salary and non-salary customers with market-leading returns and seamless digital access. Through the new account salary customers can earn 6.25% interest per annum in addition to a cashback of up to Dh5,000 making it one of the most compelling propositions in the UAE's banking sector. With a focus on simplicity and transparency, NEO PLUS Saver Account allows salary customers transferring a monthly salary of Dh10,000 or more, to earn 6.25% interest, along with a salary bonus of Dh3,500 and an early bird cashback bonus of Dh1,500. Non-salary customers can also enjoy market leading interest rates by simply maintaining a balance of Dh50,000 or more and earning 5% interest. They can also benefit from Dh1,500 with their Early Bird cashback benefit, which includes 5% cashback on debit card transactions and Dh300 cashback on remittances. Unlike other banking accounts in the market, Mashreq's new proposition brings simplicity – no need for additional product sign-ups such as a credit card or loans or mortgages, underlining the bank's commitment to customer-first, frictionless banking. Fernando Morillo, group head of retail banking at Mashreq, said, 'We are proud to launch a product that directly responds to the growing demand for rewarding, transparent savings solutions. With NEO PLUS Saver, customers do not just earn competitive interest – they enjoy a complete digital banking experience through our award-winning mobile app, designed to simplify money management and support smarter financial growth.' Radu Topliceanu, global head of NEO at Mashreq, added, 'Mashreq NEO has always been about creating intuitive, high-value banking experiences that fit into our customers' lives. With NEO PLUS Saver, we are setting a new benchmark for what digital savings can offer in the UAE – unmatched returns, no hidden requirements, and a fully digital, customer-first journey from start to finish.' Available exclusively through the Mashreq Mobile App – the highest customer-rated banking app in the UAE at 4.8 stars – the NEO PLUS Saver can be opened instantly, offering customers convenient access to the full suite of Mashreq's digital wealth and investment tools. These include fee-free US stock trading, mutual funds, bonds, thematic investments, and more. This launch further strengthens Mashreq's position as a digital banking pioneer and reinforces its role in shaping the future of personal finance in the UAE. With a fully digital onboarding process and no hidden requirements, the NEO PLUS Saver Account is built for growth-minded individuals who want to make their money work harder – all from their smartphone. Find your way to Rise Every Day at:
Zawya
08-07-2025
- Business
- Zawya
Arabian Gulf Steel gets key sustainable financing from Mashreq
Mashreq, a leading financial institution in the Mena region, has announced the provision of an AED126 million ( ) sustainable financing facility to Arabian Gulf Steel Industries (AGSI) to help the company's smooth transition toward cleaner industrial practices by 2030. One of UAE's largest private sector steel makers, ASGI is also a recycler and a recognised leader in low emission steel production. Its operations are fully based on local recycled raw materials and powered mostly by renewable energy. The transaction will further support AGSI's sustainability agenda and enable the company's transition toward cleaner industrial practices in line with UAE Vision 2030. As one of the UAE's first steel producers to secure a green facility tied to emissions goals, AGSI is setting a precedent for how industrial players can integrate environmental performance into their financing strategy. AGSI's carbon neutrality was verified by DNV, leading global assurance and certification firm, confirming emissions of 0.13 tonnes of CO₂ per tonne of crude steel. Looking ahead, the company plans to produce 5 million tonnes of green steel by 2030 and aims to cut emissions by 95 percent compared to traditional steelmaking. The facility will fund environmentally friendly projects focused on improving production efficiency to help AGSI meet these targets. It will also accelerate the adoption of green technologies, with cost savings expected over time through better energy use and reduced operating expenses. Joel Van Dusen, Head of the Mashreq Corporate and Investment Banking Group, said: "AGSI is setting a benchmark for low-emission steel production, and we are pleased to provide a financing solution that enables them to scale their efforts. Responsible finance is a business imperative for Mashreq, and we are focused on delivering structures that help our clients lead that transition with confidence." Steel industry is currently responsible for 7% of total global CO₂ emissions. This facility represents a significant step forward for green finance in the Middle East, applying sustainable funding to a sector that is traditionally difficult to decarbonise. Faisal AlShimmari, Head of ESG at Mashreq, said: "This transaction reflects a broader shift taking place across the region's industrial sector, where more companies are using finance as a strategic tool to meet their sustainability goals." It is the latest addition to Mashreq's pledge to facilitate $30 billion in sustainable finance by 2030. "Steelmaking remains one of the most resource-intensive industries globally, and AGSI is among the first in the UAE to secure a green facility that directly supports its decarbonisation efforts," stated AlShimmari. "This deal also reinforces Mashreq's leading role in driving sustainable industrial growth in the UAE and the region by aligning finance with tangible environmental outcomes," he added. Asam Hussain, founder and CEO at AGSI said: "Securing this facility reflects both the strength of our business model and the growing confidence in industrial sustainability as a viable path forward. Our partnership with Mashreq marks an important step forward in our growth journey and our shared commitment to a low-carbon future." "It gives us the momentum to keep moving forward, scaling responsibly, and continuing to deliver real value to the UAE's green economy," he stated. The company has achieved net zero carbon emissions per tonne of steel and remains committed to carbon neutrality through 2035 and beyond. By 2030, AGSI aims to produce 5 million tons of low-carbon steel while maintaining a 90% reduction in emissions compared to traditional steelmaking. The company has already eliminated more than 7.28 million tons of carbon dioxide emissions through its current production model.- TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Al Bawaba
07-07-2025
- Business
- Al Bawaba
Mashreq announces AED 126 million Sustainable financing facility for one of the UAE's leading sustainable steel producers, Arabian Gulf Steel Industries
Mashreq, a leading financial institution in the MENA region, has announced the provision of an AED 126 million sustainable financing facility to Arabian Gulf Steel Industries (AGSI), the UAE's largest private sector steel maker and recycler and a recognised leader in low emission steel production. The transaction will further support AGSI's sustainability agenda and enable the company's transition toward cleaner industrial practices in line with UAE Vision one of the UAE's first steel producers to secure a green facility tied to emissions goals, AGSI is setting a precedent for how industrial players can integrate environmental performance into their financing strategy. AGSI's carbon neutrality was verified by DNV, leading global assurance and certification firm, confirming emissions of 0.13 tonnes of CO₂ per tonne of crude steel. Looking ahead, the company plans to produce 5 million tonnes of green steel by 2030 and aims to cut emissions by 95 percent compared to traditional steelmaking. The facility will fund environmentally friendly projects focused on improving production efficiency to help AGSI meet these targets. It will also accelerate the adoption of green technologies, with cost savings expected over time through better energy use and reduced operating Van Dusen, Head of the Mashreq Corporate and Investment Banking Group, said: "AGSI is setting a benchmark for low-emission steel production, and we are pleased to provide a financing solution that enables them to scale their efforts. Responsible finance is a business imperative for Mashreq, and we are focused on delivering structures that help our clients lead that transition with confidence."Steel industry is currently responsible for 7% of total global CO₂ emissions. This facility represents a significant step forward for green finance in the Middle East, applying sustainable funding to a sector that is traditionally difficult to AlShimmari, Head of ESG at Mashreq, said: 'This transaction reflects a broader shift taking place across the region's industrial sector, where more companies are using finance as a strategic tool to meet their sustainability goals. Steelmaking remains one of the most resource-intensive industries globally, and AGSI is among the first in the UAE to secure a green facility that directly supports its decarbonisation efforts. This deal also reinforces Mashreq's leading role in driving sustainable industrial growth in the UAE and the region by aligning finance with tangible environmental outcomes."AGSI is the UAE's largest private sector steel maker and recycler. Its operations are fully based on local recycled raw materials and powered mostly by renewable energy. The company has achieved net zero carbon emissions per tonne of steel and remains committed to carbon neutrality through 2035 and beyond. By 2030, AGSI aims to produce 5 million tons of low-carbon steel while maintaining a 90 percent reduction in emissions compared to traditional steelmaking. The company has already eliminated more than 7.28 million tons of carbon dioxide emissions through its current production Hussain, founder and CEO at AGSI said: 'Securing this facility reflects both the strength of our business model and the growing confidence in industrial sustainability as a viable path forward. Our partnership with Mashreq marks an important step forward in our growth journey and our shared commitment to a low-carbon future. It gives us the momentum to keep moving forward, scaling responsibly, and continuing to deliver real value to the UAE's green economy.' This transaction is the latest addition to Mashreq's pledge to facilitate USD 30 billion in sustainable finance by 2030. The bank has played a leading role in several high-impact ESG transactions across the region. The facility is also part of Mashreq's Climb2Change initiative, a global platform that unifies the bank's efforts in sustainable finance, responsible banking, and social impact.
