February 23, 2026
Methodology About Newsletter
WE THE UAE 2031
The Vanderbilt Terminal for the UAE's National Transformation
INDEPENDENT GLOBAL INTELLIGENCE FOR THE UNITED ARAB EMIRATES
UAE GDP: AED 2.03T ▲ 5.7% | Non-Oil GDP Share: 84.3% ▼ -5.2pp | FDI Inflows: $45.6B ▲ 48.7% | GDP Growth: 4.0% ▲ -0.3pp vs 2023 | Inflation: 1.7% ▼ +0.0pp vs 2023 | Female Participation: 55.1% ▲ +0.6pp vs 2023 | Population: 11.0M ▲ 4.8% | Emiratisation Rate: 12.5% ▲ 2.1pp | Global Competitiveness: #7 ▲ 3 places | Clean Energy Capacity: 7.2 GW ▲ 18.4% | ADX Index: 9,842 ▲ 4.7% | DFM Index: 4,621 ▲ 6.2% | UAE GDP: AED 2.03T ▲ 5.7% | Non-Oil GDP Share: 84.3% ▼ -5.2pp | FDI Inflows: $45.6B ▲ 48.7% | GDP Growth: 4.0% ▲ -0.3pp vs 2023 | Inflation: 1.7% ▼ +0.0pp vs 2023 | Female Participation: 55.1% ▲ +0.6pp vs 2023 | Population: 11.0M ▲ 4.8% | Emiratisation Rate: 12.5% ▲ 2.1pp | Global Competitiveness: #7 ▲ 3 places | Clean Energy Capacity: 7.2 GW ▲ 18.4% | ADX Index: 9,842 ▲ 4.7% | DFM Index: 4,621 ▲ 6.2% |

Definition

Mashreq Bank is one of the oldest and largest privately held banking institutions in the United Arab Emirates, founded in 1967 as the Bank of Oman. The bank provides a comprehensive suite of financial services including retail banking, corporate and institutional banking, treasury and capital markets, trade finance, and wealth management. Mashreq has distinguished itself within the UAE banking sector through aggressive investment in financial technology and digital banking innovation, positioning itself as one of the most digitally advanced banks in the region.

UAE Context

Mashreq holds a unique position in the UAE banking landscape as a leading privately owned bank in a market dominated by government-backed institutions. The bank launched Mashreq Neo, one of the earliest fully digital banking platforms in the Middle East, and has consistently invested in AI, blockchain, robotic process automation, and open banking capabilities. Mashreq operates across the UAE, Egypt, Bahrain, Kuwait, Qatar, and international financial centers including London, Hong Kong, and New York. The bank manages total assets exceeding USD 55 billion and serves both the affluent retail market and major corporate clients. Its trade finance operations are particularly significant given the UAE’s position as a global trading hub.

Key Data

  • Founded: 1967 (as Bank of Oman; renamed Mashreq in 1993)
  • Total assets: Over USD 55 billion
  • Ownership: Privately held (Al Ghurair family is the largest shareholder)
  • Digital platforms: Mashreq Neo, advanced mobile banking
  • International offices: Egypt, Bahrain, Kuwait, Qatar, UK, Hong Kong, US
  • Headquarters: Dubai

Significance for Vision 2031

Mashreq’s technology-first approach to banking makes it an important contributor to the UAE’s fintech ecosystem and digital economy objectives under Vision 2031. The bank demonstrates that UAE-based financial institutions can lead in digital innovation rather than simply following global trends. Mashreq’s private sector ownership model also provides a counterpoint to the government-dominated banking landscape, showcasing the role of independent enterprise in building a diversified, resilient financial sector.

  • Emirates NBD - Dubai’s largest banking group
  • FAB - The UAE’s largest bank by total assets
  • Smart Government - Digital transformation agenda aligned with Mashreq’s fintech innovations