Arab Finance: Mashreq has become the first UAE-based bank to offer a fully digital account opening service for non-resident Egyptian customers, in a move set to transform cross-border banking for Egyptians abroad, as per an emailed press release.

This innovative solution allows Egyptian nationals residing in the UAE to instantly open a Mashreq Egypt Account remotely via the Mashreq UAE mobile app, with no paperwork or in-branch visits required.

Eligible customers holding a NEO, Gold, or Private account with Mashreq UAE can now open an account in Egyptian Pound, US Dollar, or both, in just a few simple steps.

Mashreq’s new digital solution aims to further accelerate this upward trend by making it easier, faster, and fee-free for Egyptians in the UAE to send money home and manage their finances seamlessly across borders.

Designed to offer maximum convenience, the Mashreq Egypt Account is free for life and comes packed with powerful features.

Customers can enjoy free, instant transfers from their Mashreq UAE accounts via the Quick Remit service, access a unified global dashboard to view and manage both UAE and Egypt accounts using the Mashreq UAE mobile app, and receive a complimentary debit card with generous withdrawal and spending limits.

Additionally, account holders benefit from a host of exclusive lifestyle perks across dining, entertainment, and travel.

Amr El Bahey, CEO of Mashreq Egypt, said: “By enabling seamless, fee-free account opening and transfers to Egypt, we are not only simplifying the lives of Egyptians abroad but also supporting a vital national priority to maximize remittance flows into the country.”

“This initiative reflects Mashreq’s commitment to financial innovation and our role in empowering Egyptians to manage their finances smoothly across borders, wherever they are,” El Bahey added.

Mohamed Talaat, Head of Retail Banking at Mashreq Egypt, said: "This service opens a new chapter of convenience and connectivity for Egyptians in the UAE."

The launch of this service underscores Mashreq's continued investment in innovation that simplifies cross-border banking and delivers greater flexibility and value for expatriate communities.