United Arab Emirates, Dubai, 28th March 2012: Mashreq, one of the UAE's leading National financial institutions, was a proud recipient of two prestigious awards at Banker Middle East Product Awards 2012. The bank was awarded Best Branch Design Award and Best Islamic Investment Fund Award for Mashreq Al Islami Income Fund.Customers can now get the instant personalized debit cards offering full spectrum and global standard security, which will enable to experience advanced banking solutions fulfilling their financial requirements instantly.
The Banker Middle East awards were established to set the highest benchmarks for the industry. The awards nominate banks that have shown outstanding performance and success over the past 12 months. Winners are selected by the readers of the publication and all publications under CPI Financial.
Mashreq's renovated branches are designed to provide an open, engaging space to allow customers enjoy world-class banking services. The new set-up provides a platform to extend convenience, quick access of information and a one-to-one interaction. The bank's branches are strategically located across the UAE offering distinctive financial solutions.
Shaker Zainal, Head of Distribution, Middle East, commented, "We are very pleased to win the Best Branch Design Award, which reflects our unique approach to create an engaging atmosphere for our customers. The objective of our branch set up is to extend a banking experience with an emotional connection as well as a functional one to our customers. Our aim is to provide a holistic financial experience and we have certainly achieved that."
Mashreq Al Islami Fund, our flagship Sukuk fund has the strongest track record amongst other global sukuk funds and has significantly outperformed its targeted return objective of 5-7% each year since its inception in June 2009. The fund has provided 2011 return of 7.5% and since inception return of 27.38% (June 2009- March 20, 2012).
Abdul Kadir Hussain, Head of Asset Management, Mashreq, said, "The fund has provided stable and above target returns since its inception even in difficult times. The award is a direct recognition of fund's excellent performance and our team's ability to manage our client's investments even in a tough market environment."