MCB inaugurates its first wholesale banking branch in Dubai, UAE

MCB Bank Ltd proudly inaugurated its first Wholesale Branch Banking operations in Dubai, UAE on Thursday 2nd July, 2015 at the Armani Hotel. The event was inaugurated by Pakistan’s Finance Minister, MrIshaq Dar and was attended by H.E. Sheikh Nahyan Mubarak al Nahyan and several local as well as international dignitaries.

MCB Bank Limited has leaped boundaries by marking its international footprint in the international market via its presence in Dubai, UAE. With its first Wholesale Banking branch in the UAE, it has customized business products, which include Business Accounts as well as Finance and Trade. The services provided will cater to the booming business community of UAE, and will contribute towards further expansion and growth amidst this flourishing economy.

The President of the Bank, Mr. Imran Maqbool, speaking on the occasion said, “On the International front, we have a solid business strategy, long term commitment and a positive future outlook. We would like to capitalize on MCB’s balance sheet strength, our strategic alliance with May Bank(covering ASEAN countries) and our presence in Sri Lanka to bring scale and diversity to service growing trade/remittance business with UAE. We are exploring business opportunities in Tanzania, Afghanistan, China and other regional economies to successfully navigate international expansion”.

H.E. Sheikh Nayhan Mubarak al Nahyan welcomed the opening of the leading Pakistani bank branch in Dubai and said, “It would be a good addition to the extensive and vibrant local and international banking network in the UAE”.

Pakistan’s Finance Minister Mr Ishaq Dar was then invited to share his observations and thoughts regarding this landmark moment. In his message he remarked that, “The establishment of an MCB branch in Dubai would provide quality banking services to the large Pakistani community as it would help them send their remittances and avail other banking services”.

The event concluded with the Chairman, Mian Mohammad Mansha sharing a few words to commemorate the occasion. He said, “The bank hoped to open more branches in the UAE, subject to approval from the UAE Central bank. MCB Bank already has seven branches in Sri Lanka, one in Bahrain and one in Azerbaijan. He also mentioned that the more than 1,200 branches in Pakistan receive around 12 percent of the total remittances to the country”.

Moving forward, MCB hopes to strengthen its trade ties via its strategic presence in the UAE and also help engender trade relations between the UAE business community and countries in Asia especially the Far Eastern corridor, where Maybank of Malaysia has a strong foothold.