Himanshu Singh

Just when I thought I had heard it all. Below, is a fraud warning sent by a Dubai based, Mashreq bank explaining the 'vanishing ink' scam which I didn't know of till now. Cheques are still commonly used in many parts of the world. "Fraudsters can approach you, disguising themselves as officers from a financial institution offering various products such as Personal Loans and Credit Cards. Once you agree to apply for it, they will collect all relevant documents including your “Latest Bank Statement” and fill in the application and security cheque (in favour of the bank) using the “Magic Pen” and take your signature using a normal pen. Since they have your bank statement, they use the cheque in their own name and withdraw funds. Always use your own pen to fill any applications and cheque. Never issue a blank cheque and always fill in the beneficiary’s name with your own pen and make it an “Account Payee”." #banking #fraud #safety #middleast

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Mashreq's 9M 2024 Profit Before Tax Rises 9% YoY to AED 6.5 Billion, reflecting strong business activity in a healthy business environment H.E. Abdul Aziz Al Ghurair, Chairman of Mashreq: ‘Mashreq’s financial results reflect our alignment with the UAE’s broader economic growth. Our focus on innovation, sustainable finance, and strategic market positioning keeps us ahead, seizing emerging opportunities while managing risks effectively. As we diversify revenue streams, enhance customer journeys, and lead in digital transformation, our commitment to long-term value creation remains steadfast. We are proud of our achievements and remain focused on delivering our strategic priorities, supporting the nation’s growth and prosperity.’ Ahmed Abdelaal, Mashreq Group Chief Executive Officer: 'Our strong performance in the first nine months of 2024 underscores Mashreq’s strategic direction and operational resilience in navigating dynamic market conditions. Profit before tax rose 9% to AED 6.5 billion, with net interest income up 13%, reflecting the success of our diversified revenue streams and disciplined capital management. Non-interest income now accounts for 30% of total operating income, showcasing our ability to generate value beyond traditional banking.’ Read the full report: http://ms.spr.ly/6047W3Snc #Mashreq #FinancialResults #FinancialMilestone #BankingExcellence

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Mashreq's 9M 2024 Profit Before Tax Rises 9% YoY to AED 6.5 Billion, reflecting strong business activity in a healthy business environment H.E. Abdul Aziz Al Ghurair, Chairman of Mashreq: ‘Mashreq’s financial results reflect our alignment with the UAE’s broader economic growth. Our focus on innovation, sustainable finance, and strategic market positioning keeps us ahead, seizing emerging opportunities while managing risks effectively. As we diversify revenue streams, enhance customer journeys, and lead in digital transformation, our commitment to long-term value creation remains steadfast. We are proud of our achievements and remain focused on delivering our strategic priorities, supporting the nation’s growth and prosperity.’ Ahmed Abdelaal, Mashreq Group Chief Executive Officer: 'Our strong performance in the first nine months of 2024 underscores Mashreq’s strategic direction and operational resilience in navigating dynamic market conditions. Profit before tax rose 9% to AED 6.5 billion, with net interest income up 13%, reflecting the success of our diversified revenue streams and disciplined capital management. Non-interest income now accounts for 30% of total operating income, showcasing our ability to generate value beyond traditional banking.’ Read the full report: http://ms.spr.ly/6043W3SZN #Mashreq #FinancialResults #FinancialMilestone #BankingExcellence

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Mashreq's 9M 2024 Profit Before Tax Rises 9% YoY to AED 6.5 Billion, reflecting strong business activity in a healthy business environment H.E. Abdul Aziz Al Ghurair, Chairman of Mashreq: ‘Mashreq’s financial results reflect our alignment with the UAE’s broader economic growth. Our focus on innovation, sustainable finance, and strategic market positioning keeps us ahead, seizing emerging opportunities while managing risks effectively. As we diversify revenue streams, enhance customer journeys, and lead in digital transformation, our commitment to long-term value creation remains steadfast. We are proud of our achievements and remain focused on delivering our strategic priorities, supporting the nation’s growth and prosperity.’ Ahmed Abdelaal, Mashreq Group Chief Executive Officer: 'Our strong performance in the first nine months of 2024 underscores Mashreq’s strategic direction and operational resilience in navigating dynamic market conditions. Profit before tax rose 9% to AED 6.5 billion, with net interest income up 13%, reflecting the success of our diversified revenue streams and disciplined capital management. Non-interest income now accounts for 30% of total operating income, showcasing our ability to generate value beyond traditional banking.’ Read the full report: http://ms.spr.ly/6049W3SwJ #Mashreq #FinancialResults #FinancialMilestone #BankingExcellence

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Mashreq's 9M 2024 Profit Before Tax Rises 9% YoY to AED 6.5 Billion, reflecting strong business activity in a healthy business environment H.E. Abdul Aziz Al Ghurair, Chairman of Mashreq: ‘Mashreq’s financial results reflect our alignment with the UAE’s broader economic growth. Our focus on innovation, sustainable finance, and strategic market positioning keeps us ahead, seizing emerging opportunities while managing risks effectively. As we diversify revenue streams, enhance customer journeys, and lead in digital transformation, our commitment to long-term value creation remains steadfast. We are proud of our achievements and remain focused on delivering our strategic priorities, supporting the nation’s growth and prosperity.’ Ahmed Abdelaal, Mashreq Group Chief Executive Officer: 'Our strong performance in the first nine months of 2024 underscores Mashreq’s strategic direction and operational resilience in navigating dynamic market conditions. Profit before tax rose 9% to AED 6.5 billion, with net interest income up 13%, reflecting the success of our diversified revenue streams and disciplined capital management. Non-interest income now accounts for 30% of total operating income, showcasing our ability to generate value beyond traditional banking.’ Read the full report: http://ms.spr.ly/6046W3Sw4 #Mashreq #FinancialResults #FinancialMilestone #BankingExcellence

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Central Bank of UAE launches 'Sanadak', UAE's first Financial & Insurance Ombudsman Reported by Sucheta Sarkar Read More Here-https://lnkd.in/gtZ6Gp9y #CBUAE #CentralBankofUAE #FinancialandInsuranceOmbudsman #consumerprotection #MENAregion #Ombudsman #Sanadak #UAE #scconline #SCC #legalnews #legalknowledge #scctimes #legalblog #legalupdates #lawstudent #legalresearch #legalstudies #surestwaytolegalresearch #bringingyouthebestlegalnews

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Are you an NRI based out in #Dubai? Let me know in the comments section if you can relate to the below story - In bustling Dubai, Vijay was saving diligently in his Emirates NBD account, earning just 2% per year in AED. He had big dreams of investing in real estate in Dubai within 7-8 years, but he knew his savings alone wouldn't grow enough by then. Then he discovered Indian mutual funds. By putting his money in an Indian NRE account and investing in a mix of debt hybrid funds, balanced advantage funds, and Flexi Cap funds, Vijay found a way to make his money work harder. He saw that India's most popular Flexi Cap fund had earned around 19% annually over the last decade. This meant Vijay's savings could grow much faster than they could in his Dubai bank account. And when the time came to buy property in Dubai, he could easily sell his mutual fund investments, transfer the money back to Dubai through his NRE account, and use it for his real estate dreams. For NRIs like Vijay in the Middle East, this was a smart way to earn more from their savings. While Dubai's banks offered low returns, Indian mutual funds offered a better chance to build wealth. Vijay's story showed how smart investing could turn dreams into reality. #dubai #NRI #IndiansInDubai Disclaimer: Mutual Fund investments are subject to market risks, read all scheme-related documents carefully.

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We're thrilled to announce the appointment of Mr.Niraj Kumar from United Arab Bank and Mr.Mohit Gandhi, CDCS from Abu Dhabi Commercial Bank as the elected co-chairs of our steering committee! The #trade #finance experts bring a wealth of #knowledge and #experience, driving #innovation and #digital transformation in banking. Their role, along with that of the #consortium's steering committee, will be to continue to drive the platform's #innovation and #digital #roadmap in the #banking industry, as well as interfacing with Central Bank of the United Arab Emirates (CBUAE) and UAE Banks Federation, among others. Please join us in welcoming the co - chairs ! Al Masraf ADIB - Abu Dhabi Islamic Bank Abu Dhabi Commercial Bank Commercial Bank International Commercial Bank of Dubai Dubai Islamic Bank Emirates NBD First Abu Dhabi Bank (FAB) Mashreq Corporate & Investment Banking Group Invest Bank National Bank of Fujairah RAKBANK United Arab Bank Beehive Fintech DP World haifin, an e& enterprise company - Built by the Banks, For the Banks #Fintechnews #UAETradeConnect #Digitisation #Interoperability #Artificialintelligence #Machinelearning #Blockchaintechnology #Globaltrade #Hyperledger #Cocreation #Powerofnetwork #Innovation #supplychainfinance #TradeFinance #FinancialInnovation #Collaboration #PartnershipAnnouncement #InnovationInFinance #StrategicCollaboration #FinanceIndustry #FinancialLeadership #FCI #ITFA #ICC #GTR #UAEbanks

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Ever had a “customer-centric” bank that consistently charges you incorrectly and then tells you ‘the charges are valid’? Welcome to my two-year experience with Mashreq During this period I had about 8-10 interactions for wrongful charges, always deemed “valid.” When the unfair charges piled up, I had to involve the CBUAE to get refunds, the bank was swift to make those refunds. This was not the bad part, it was dealing with the support team at #Mashreq Today's gem: I contacted support about more incorrect charges, only to receive the usual scripted response. It’s impressive how well they ignore actual messages. Have you ever been online chatting with a bank asking them to register a compalint and they would deny (yes, deny) to register a complaint? Try Mashreq customer service. Radu Topliceanu on the contrary to what I heard from you at the conferences. Meanwhile, the app works flawlessly—kudos to the dev team for that. I'm logging yet another dispute with CBUAE and then closing my accounts. Just a heads-up if you're considering Mashreq—maybe think twice. #CustomerExperience #CX

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In a special feature by Gulf News, Vipul Kapur, Head of Mashreq Private Banking, discusses how digital innovation is transforming private banking. He states, “We have been at the forefront of this revolution, leveraging cutting-edge technologies to reshape the way we manage wealth”. Check out the full article at http://ms.spr.ly/6046Wk5zw to learn how Mashreq is pioneering with a forward-thinking approach. #PrivateBanking #WealthManagement #DigitalInnovation #FutureOfFinance #GulfNews

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In a special feature by Gulf News, Vipul Kapur, Head of Mashreq Private Banking, discusses how digital innovation is transforming private banking. He states, “We have been at the forefront of this revolution, leveraging cutting-edge technologies to reshape the way we manage wealth”. Check out the full article at http://ms.spr.ly/6049Wk5zW to learn how Mashreq is pioneering with a forward-thinking approach. #PrivateBanking #WealthManagement #DigitalInnovation #FutureOfFinance #GulfNews

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In a special feature by Gulf News, Vipul Kapur, Head of Mashreq Private Banking, discusses how digital innovation is transforming private banking. He states, “We have been at the forefront of this revolution, leveraging cutting-edge technologies to reshape the way we manage wealth”. Check out the full article at http://ms.spr.ly/6041Wk5zU to learn how Mashreq is pioneering with a forward-thinking approach. #PrivateBanking #WealthManagement #DigitalInnovation #FutureOfFinance #GulfNews

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In a special feature by Gulf News, Vipul Kapur, Head of Mashreq Private Banking, discusses how digital innovation is transforming private banking. He states, “We have been at the forefront of this revolution, leveraging cutting-edge technologies to reshape the way we manage wealth”. Check out the full article at http://ms.spr.ly/6046Wk5zQ to learn how Mashreq is pioneering with a forward-thinking approach. #PrivateBanking #WealthManagement #DigitalInnovation #FutureOfFinance #GulfNews

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Living and working in Dubai offers unique benefits. With an individual tax-free environment, all your income stays with you, providing unmatched opportunities to invest and grow your wealth. So why wouldn’t you be looking for opportunities that you understand? Planning for your financial legacy with confidence is not to be left at random. You need to prepare it and keep in mind few rules that help you to sort out which investment is made for you, that we also apply to ourselves. - Tracing Opportunities: Access investments in targeted sectors, which are themselves drivers of growth (health, sustainability, tech…). - Transparent Investments: Gain full visibility on the investment for your peace of mind, meaning that you should only invest when you understand how the value is created. - Regulated Security: Investing internationally means you have to ensure that you invest through advisors that are completely regulated (DIFC, ADGM in the UAE… AMF in France…) and with financial solutions that are also regulated. Anything that is not under the scope of a regulator presents an increased risk, we've recently seen examples of it. Being an expatriate doesn’t mean relying solely on your salary to grow your wealth, hence when investing, make sure to work with people who bring meaning to your value creation. And you, what is your investment experience in Dubai, to ensure you maximise you tax-free status? Comment below!

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56% of people find it difficult to talk about money with their friends and family. 28% would rather sit in traffic for 2 hours+ than talk about money. 27% would rather speak in front of a large crowd than talk about money. Why are we so uncomfortable to talk about money? It's a deeply rooted cultural taboo. Many see financial conversations as impolite or inappropriate. Growing up, we learn to avoid these conversations. This affects our money management by leaving us with less knowledge, poor habits, and more anxiety. An insight and problem beautifully tackled by our brave client Emirates NBD and the brilliant team at Leo Burnett MEA (Middle East & Africa). Through this heartwarming Pixar-style film, we were able to address what otherwise would have been a tough pill to swallow. Kalpesh Patankar, Divyan Kriplani, Syed S., Farhan Siddiqui, Hala Ghazal, Vicky Kriplani, Sarah Rassasse, Kezia Shamil, Haytham Lamah, Shereen Mostafa, Tania Hage #ActsNotAds

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The essence of green finance lies in its comprehensive approach. Beyond monetary support for green projects, it involves issuing green bonds and promoting sustainable practices among stakeholders. #Mashreq #GreenFinance #RiseEveryDay Mashreq Corporate & Investment Banking Group

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Are recent reports about the collapse of the longstanding 'petrodollar' agreement between the U.S. and Saudi Arabia accurate? As per few news articles doing rounds in the social media have indicated key points to be considered : 1) There has never been a formal agreement requiring Saudi Arabia to price its oil exclusively in U.S. dollars. 2) The U.S - Saudi Arabian Joint Commission on Economic Cooperation, established in 1974, aimed at fostering economic collaboration, not mandating oil pricing in dollars. 3) The relationship between the U.S. and Saudi Arabia is built on mutual economic and strategic benefits, especially after the 1973 OPEC oil embargo. 4) Saudi Arabia accepted other currencies, like the British pound, for oil payments even after the 1974 agreement. 5) The petrodollar system evolved naturally, driven by mutual interests, rather than through a formal or secretive pact. 6) Recent talks of Saudi Arabia exploring other currencies like the yuan for oil payments do not pose a significant threat to the dollar's dominance. 7) The dollar's status as the main global reserve currency is more influenced by where countries hold their reserves than the currencies used for oil payments. 8) The strong economic and military ties between the U.S. and Saudi Arabia reinforce the dollar's preference for oil transactions. 9) Despite some diversification by central banks, the U.S. dollar remains the leading global reserve currency. In conclusion, the petrodollar system's foundation and the U.S - Saudi Arabia relationship support the continued dominance of the U.S. dollar in global transactions. It will be really interesting to keep a close watch on this piece of news.

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Digital Finance Elite Convenes in Dubai: The UAE Decision-Makers Roundtable (Nov 12th) I’m glad to be invited for #The_Leaders_Roundtables_in_UAE to participate in such valuable discussion. We will discuss a critical topics like digitization, ecosystem building, digital payments, AI and data, and emerging technologies. A special thanks to Decimal Technologies

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Rajeev Chalisgaonkar, Head of Business Banking and NEObiz at Mashreq, talks about the challenges SMEs face with banking and what Mashreq has done to resolve these obstacles. #GFD #GFDpodcast #mashreq #mashreqsolutions #bankingsolutions #businessapplications #banking #SMEsolutions #SME #mashreqgoals #businessgoals

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