Al Masraf Company Profile

Background

Overview

Established in July 1976, the Arab Bank for Investment and Foreign Trade (Al Masraf) commenced its banking operations under the authority of Federal Decree No. 50, issued and signed by the late His Highness Sheikh Zayed Bin Sultan Al Nahyan. Over the past four decades, Al Masraf has been at the forefront of promoting joint economic ventures among its partners—the UAE, Libya, and Algeria—by providing world-class banking and trade finance services in the Gulf region. The bank strives to achieve its vision of becoming an innovative and preferred financial partner for all banking services in the region.

Mission and Vision

Mission: To become the first-choice bank for customers with best-in-class products and services, be an employer of choice to attract, develop, and retain high-profile employees, benefit investors with sustainable Return on Investment (ROI) and continuous success, and contribute to society through active participation in regional economic development initiatives.

Vision: To become an innovative and preferred financial partner for all banking services in the region.

Values

Progressive: Solutions-focused, maintaining best-in-industry standards, and valuing the free exchange of ideas.

Connected: In touch with customers, present for colleagues, and connected to communities—in person and online.

Trusted: Open and transparent, building relationships that last for generations, keeping their word, and taking responsibility for actions.

Key Strategic Focus

Core Objectives

Al Masraf aims to be the first-choice bank for customers by offering best-in-class products and services, attracting and retaining high-profile employees, providing sustainable ROI to investors, and contributing to regional economic development.

Areas of Specialization

Retail Banking: Offering current and savings accounts, time deposit accounts, financing, and credit cards.

Corporate Banking: Providing corporate finance and advisory services, financing products, cash management, treasury, and trade finance.

Islamic Banking: Delivering Sharia-compliant financial products and services.

Treasury and Investment Services: Managing investments and providing treasury services.

Key Technologies Utilized

Al Masraf has embraced digital transformation by selecting Temenos’ UniversalSuite, a front-to-back solution that enables banks to offer a user-optimized experience across channels and business lines. Additionally, in August 2025, Al Masraf partnered with Lexzur, a leading legal technology provider, to integrate AI-powered legal solutions, enhancing operational efficiency and compliance within its legal practice.

Primary Markets Targeted

Al Masraf primarily serves the UAE market, with a focus on promoting joint economic ventures among the UAE, Libya, and Algeria.

Financials and Funding

Funding History

Al Masraf's funding history includes significant investments from its major shareholders:

Emirates Investment Authority: 42.28% ownership.

Libyan Foreign Bank: 42.28% ownership.

Banque Exterieure d’Algerie: 15.44% ownership.

Recent Financial Performance

In 2024, Al Masraf reported a net profit of AED 231.3 million, a 22% increase from AED 189.4 million in 2023. This growth was attributed to improved operating performance, a favorable asset and liability mix, and higher interest rates.

Intended Utilization of Capital

The capital raised is intended to support Al Masraf's strategic initiatives, including digital transformation, expansion of product offerings, and enhancement of customer experience.

Pipeline Development

Key Pipeline Candidates

Al Masraf is focusing on expanding its digital banking services and enhancing its Sharia-compliant product offerings to meet the evolving needs of its customers.

Stages of Development

The bank is in the implementation phase of its digital transformation strategy, integrating advanced technologies to improve operational efficiency and customer engagement.

Target Conditions

Al Masraf aims to address the growing demand for digital banking solutions and Sharia-compliant financial products in the UAE and the broader Gulf region.

Anticipated Milestones

Key milestones include the successful integration of AI-powered legal solutions, the launch of enhanced digital banking platforms, and the introduction of new Sharia-compliant financial products.

Technological Platform and Innovation

Proprietary Technologies

Al Masraf has adopted Temenos’ UniversalSuite for its core banking operations and partnered with Lexzur to integrate AI-powered legal solutions, enhancing operational efficiency and compliance.

Significant Scientific Methods

The bank employs AI-driven legal technologies to automate legal processes, providing precise, real-time guidance and improving workflow efficiency.

Leadership Team

Executive Profiles

H.E. Farhat Omar Ben Gadara: Chairman of the Board of Directors.

Mr. Fuad Mohamed: Chief Executive Officer.

Mr. Hitesh Thakkar: Chief Financial Officer, appointed on July 8, 2025.

Professional Backgrounds and Contributions

H.E. Farhat Omar Ben Gadara: As Chairman, he has been instrumental in steering Al Masraf's strategic direction and fostering partnerships that enhance the bank's regional presence.

Mr. Fuad Mohamed: As CEO, he has led the bank through significant digital transformation initiatives and has been pivotal in enhancing customer experience and operational efficiency.

Mr. Hitesh Thakkar: As CFO, he oversees financial operations and has contributed to the bank's financial growth and stability.

Competitor Profile

Market Insights and Dynamics

The UAE banking sector is characterized by rapid digital transformation, a growing demand for Sharia-compliant financial products, and a competitive landscape with both local and international players.

Competitor Analysis

Al Masraf faces competition from other UAE banks offering similar services, including Emirates NBD, Abu Dhabi Commercial Bank, and First Abu Dhabi Bank. The bank differentiates itself through its focus on joint economic ventures and its commitment to innovation and customer service.

Strategic Collaborations and Partnerships

Al Masraf's partnership with Lexzur for AI-powered legal solutions and its adoption of Temenos’ UniversalSuite for core banking operations are strategic collaborations that enhance its technological capabilities and service offerings.

Operational Insights

Al Masraf's strategic focus on digital transformation, customer-centric solutions, and Sharia-compliant products positions it to effectively compete in the UAE banking sector. The bank's strong financial performance and commitment to innovation provide a solid foundation for its operations.

Strategic Opportunities and Future Directions

Al Masraf plans to expand its digital banking services, enhance its Sharia-compliant product offerings, and explore new market segments to drive growth and strengthen its position in the UAE banking sector.