{"id":115102,"date":"2026-04-08T00:00:00","date_gmt":"2026-04-08T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?p=115102"},"modified":"2026-04-08T07:28:50","modified_gmt":"2026-04-08T07:28:50","slug":"mashreq-launches-non-resident-accounts-for-egyptians-in-the-uae","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2026\/04\/08\/mashreq-launches-non-resident-accounts-for-egyptians-in-the-uae\/","title":{"rendered":"Mashreq launches non-resident accounts for Egyptians in the UAE"},"content":{"rendered":"<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Our friends at Mashreq have launched digital cross-border accounts for Eg<\/strong><strong>yptian nationals living in the UAE<\/strong>, becoming the first bank to offer a quick-remit rail between the two countries without any fees, according to a <a href=\"https:\/\/ent.news\/2026\/4\/402.pdf\" target=\"_blank\" rel=\"noopener\">press release (pdf)<\/a>. Accounts can be opened in both EGP and USD through an entirely digital process, with no paperwork or bank visits necessary. This works for anyone holding a NEO, Gold, or Private account at Mashreq, the press release said.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Quick remit? <\/strong>Remittances are Egypt\u2019s lifeblood \u2014 rising 40.5% y-o-y to USD 41.5 bn last year \u2014 but a significant chunk of that flow often stays outside the banking system due to better rates or lower friction at exchange houses, Mashreq\u2019s Global Head of Digital Strategic Partnerships Ghazal Al Sakaal told EnterpriseAM, adding that the no-fee feature removes this barrier.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>What\u2019s next:<\/strong> Beyond simple transfers, the accounts allow UAE residents to buy Egyptian CDs and investment products directly from their phones. Al Sakaal tells us the next step is allowing users to open accounts for family members living in the UAE.<\/p>\n<p class=\"tag-border-left\">Background<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Egypt is not the only market where Mashreq offers non-resident accounts<\/strong> \u2014 it launched a similar feature in Pakistan earlier this year, and has the same offering in India, which it offers through a partner bank in the country.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The bank has already seen \u201chuge demand\u201d in Pakistan for the non-resident accounts since their launch in February<\/strong>, Al Sakaal said. It\u2019s now also considering new markets to launch non-resident accounts and continue to capture cross-border flows passing through key remittance corridors with the UAE, she added.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Central Bank of Egypt has allowed Mashreq to use its KYC protocols in the UAE for non-resident accounts<\/p>\n","protected":false},"author":1,"featured_media":115153,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1618],"tags":[159,7,288],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-115102","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-banking","tag-enterpriseam-uae","tag-mashreq","wpautop","entry"],"acf":{"mongo_id":"f6dd0289-e9bf-4a86-a4ab-fce21e3f9f5e","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/1978.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Mashreq launches non-resident accounts for Egyptians in the UAE, with quick-remit rail","related_issue":[115094],"teaser":"The Central Bank of Egypt has allowed Mashreq to use its KYC protocols in the UAE for non-resident accounts","photo_link":"","related_sponsor":"","voice_url":"","en_translation_ref_id":"","section_story_id":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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