Mashreq’s TCM offering stands out for its exceptional ability to facilitate transactions across a diverse range of products. Hammad highlights this strength, stating: “Our product offering is a key differentiator. The ability of a bank our size to transact and provide comprehensive product solutions across the board is unmatched in the market.”
This extensive capability is built on a foundation of suitability and appropriateness. “We take great care in curating the client experience,” says Naqvi. “This involves close collaboration with our risk and corporate teams. Together, we work to thoroughly understand client need and ensure they fully comprehend what they’re buying.”
This meticulous and client-focused approach has earned Mashreq a reputation for delivering customized solutions that align with client goals while minimizing unnecessary risk. Yet, the story doesn’t end there.
Sustainable Finance takes centre stage
In response to the global challenges of climate change, Mashreq has made sustainable finance a core strategic priority. “Sustainable finance is the future,” affirms Naqvi. “We are fully committed to it.”
The Bank’s initiatives span diverse products, from ESG-linked investments, green Sukuk, through to sustainability-linked derivatives. “We aim to be at the forefront,” Naqvi says. “Our focus is on innovation while carefully avoiding potential pitfalls. We have significant investments underway in this space.”
Mashreq’s commitment to sustainability extends beyond just innovation, prioritizing purpose over short-term profitability. “It’s not about profitability. It’s about it being the right thing to do,” Naqvi explains. “In the long term, addressing climate change is essential for survival. It must be done - and done right.”
This forward-thinking, purpose-driven approach positions Mashreq as a regional leader in sustainable finance, offering corporates and institutions a trusted partner for navigating the transition to a low-carbon economy.
Embracing the Islamic Finance opportunity
Complementing its focus on sustainability, Mashreq has long established a strong foothold in Islamic finance. While TCM does not directly manage the complex documentation and Shariah governance related to Islamic debt issuance, the Bank excels in the Shariah-compliant space through its innovative product offerings.
"We've always prided ourselves on innovation in this area," highlights Hammad. "We may not be the largest player yet, but we certainly have the capability to serve this segment effectively."
Mashreq’s Islamic Finance offerings span across asset classes, including equities, FX, rates, and profit rate swaps, offering a depth that surpasses regional competitors. "Our Islamic offerings are highly competitive, especially compared to Islamic windows of other banks," Naqvi notes.
Looking ahead, Naqvi sees technology as a game-changer in overcoming the challenges of documentation and Shariah governance processes associated with Islamic Finance. Adds Naqvi: "I think the legal space is going to be the biggest beneficiary of AI solutions, and in Islamic finance, where documentation is central, its role will be transformative."
Digitalization drives the future
Underpinning its strategic focus on sustainable and Islamic finance is a relentless commitment to product digitalization. “Digitalization and tech stack maintenance is our largest investment,” acknowledges Naqvi. “Without technology, none of this would be possible.”
The Bank has already digitalized its FX and equities platforms, enabling seamless one-click execution. Next, it plans to extend straight-through processing for its fixed income products.
Through AI/GenAI, TCM aims to streamline operations, enhance decision-making, and elevate the client experience by automating routine tasks, refining risk analysis, and delivering personalized insights and solutions for clients.
“GenAI is intrinsic to the day-to-day for most businesses,” Naqvi explains. As a critical focus area for the Bank, he adds: “While its adoption in TCM operations is relatively untested and highly complex, we cannot afford to lag in this area.” Although challenges remain, Mashreq is committed to GenAI adoption and integration within its business practices, all designed to enhance client experience - “which of course, is one of the key pillars of our business.”
Extending reach
As a product hub, Mashreq continues to strengthen its TCM capabilities. Beyond its central hub in the UAE, the Bank is focused on expanding its geographic footprint. “Our central hub and dealing room are based in Dubai,” says Naqvi. “We don’t plan to set up multiple satellite offices but must be able to cater to geographies in which we are growing as a part of our expansion plans.”
Instead of establishing regional dealing rooms, Mashreq intends on leveraging its Dubai-based infrastructure to support international clients. “This is a key area of focus as we expand,” Naqvi adds, with technology providing significant support in its endeavours.
This measured, hub-and-spoke model ensures tight operational control while efficiently allowing the Bank to scale its products and services for diverse markets. By leveraging its established capabilities and expertise in Dubai, the Bank can drive consistency in client experience to seamlessly serve its clients across jurisdictions and extend reach to new clients and markets.
Mashreq’s investments in sustainable finance, Islamic finance, and advanced technologies are enhancing its ability to drive client experience across diverse jurisdictions - a critical competitive edge. By combining innovation with a strategic approach to geographic expansion, Mashreq is well-positioned to solidify its role as a regional leader in the TCM space. Combining a digital vision and client-centric focus, the Bank is set to drive growth and shape the future of its business.