Al Masraf Bank in the UAE: A Strategic, Step-by-Step Guide for Residents, Businesses, and Investors

In an era where UAE banks are increasingly evaluated not only on balance‑sheet strength but also on regulatory alignment, digital maturity, and cross‑border relevance, Al Masraf Bank occupies a distinctive position. Established to facilitate Arab trade and foreign investment, the bank today functions as a hybrid institution: part retail bank, part transaction‑banking specialist, and part Islamic finance provider, with Abu Dhabi firmly at its center.

This guide rebuilds fragmented information about Al Masraf into a single, authoritative resource designed for users who want to understand what Al Masraf is, how it operates, and how to use it effectively in the UAE financial system.

What Is Al Masraf Bank?

Al Masraf, officially known as the Arab Bank for Investment and Foreign Trade, is a mid‑size UAE bank headquartered in Abu Dhabi. It was established in 1975 to promote trade, investment, and economic cooperation between Arab states.

Unlike purely retail‑focused banks, Al Masraf was designed from the outset to support:

• Cross‑border trade flows
• Government and institutional banking
• Corporate and SME transaction banking
• Selective retail and Islamic banking services

This institutional DNA still defines how the bank prioritizes products, risk, and customer segments today.

Ownership Structure and Governance (Trust & Authority Signals)

Al Masraf is jointly owned by three state‑linked financial institutions, reinforcing its long‑term stability and regional mandate:

• Emirates Investment Authority (UAE): 42.28% • Libyan Foreign Bank (Libya): 42.28% • La Banque Extérieure d’Algérie (Algeria): 15.44%

This ownership model positions Al Masraf as a regional cooperation bank, rather than a purely commercial retail lender.

Executive Leadership

• Chief Executive Officer: Fuad Mohamed (appointed February 2025) • Chief Financial Officer: Hitesh Thakkar (appointed September 2025)

The current leadership structure reflects a renewed focus on governance, compliance, and balance‑sheet resilience.

Related: Top 10 Banks in the UAE

Regulatory Positioning and Financial Standing

Al Masraf operates under the supervision of the Central Bank of the UAE (CBUAE) and complies with all UAE banking, AML, and consumer‑protection regulations.

From a credit and risk perspective:

• Fitch Ratings Long‑Term Issuer Default Rating: A • Outlook: Stable

This rating places Al Masraf in the upper tier of UAE banks for creditworthiness, particularly among mid‑size institutions.

Retail Banking at Al Masraf (Personal Use in the UAE)

While not a mass‑market retail bank, Al Masraf offers essential personal banking services designed for residents who value stability and straightforward digital access.

Personal Accounts

Al Masraf provides both conventional and Islamic account options:

• Current and savings accounts
• Tiered savings structures
• Multi‑currency accounts (AED, USD, EUR, GBP)
• Islamic current accounts for eligible customers

Account features, minimum balances, and fees are governed by the official Key Fact Statements (KFS) issued under CBUAE rules.

Cards and Personal Finance

• Debit and credit cards are issued subject to AECB credit checks • Card activation and PIN setup are completed via IVR using the official hotline • Personal loans and home finance products are available, including Sharia‑compliant Ijara structures

Corporate and SME Banking: Al Masraf’s Core Strength

Al Masraf’s strongest competitive advantage lies in transaction banking and corporate services, particularly for:

• Large corporates
• Small and Medium Enterprises (SMEs)

Corporate Accounts and Transaction Banking

Corporate clients benefit from:

• Corporate current accounts with multi‑currency functionality • AED cheque books (subject to UAE banking rules) • Online corporate banking access • Cash management and liquidity solutions

SME‑Focused Services

SMEs can access bundled offerings that include:

• Working capital finance • Payroll processing (WPS‑compliant) • Collections and receivables management • Trade finance instruments (LCs, guarantees)

These services align closely with UAE commercial and trade regulations, making Al Masraf particularly relevant for trade‑oriented businesses.

Islamic Banking Window (Sharia‑Compliant Products)

Al Masraf operates an Islamic banking window that offers:

• Sharia‑compliant personal finance • Ijara‑based home finance • Islamic current account structures

Products are structured to comply with recognized Sharia standards while remaining within CBUAE regulatory frameworks.

Digital Banking and Technology Capabilities

Digital access is central to how Al Masraf serves both individuals and businesses.

Mobile and Online Banking

The Al Masraf mobile app, available on Google Play and Apple App Store, supports more than 75 services, including:

• Balance and transaction monitoring • Statement downloads • Local and international transfers • Beneficiary management • Account opening for select products • Integration with UAE PASS • Wear OS compatibility

For most users, the app is the primary interaction channel, reducing reliance on branch visits.

Practical Step‑by‑Step: Using Al Masraf Effectively

For residents and businesses in the UAE, optimal use of Al Masraf follows a clear sequence:

1. Identify whether your primary need is personal banking or corporate/SME services
2. Review the applicable Key Fact Statement for fees and minimum balances
3. Use digital onboarding where available
4. Activate cards and access via the official IVR and mobile app
5. Centralize day‑to‑day activity through online and mobile banking

This approach minimizes friction and ensures regulatory compliance from the start.

Key Identifiers and Contact Information

• Customer Service Hotline: 600 52 99 99 • SWIFT Code: ABINAEAAXXX • Head Office: Al Masraf Tower, Hamdan Street, Abu Dhabi

These identifiers are essential for international transfers, compliance documentation, and corporate onboarding.

How Al Masraf Fits into the UAE Banking Landscape

Compared with large retail banks, Al Masraf is: • Less focused on mass consumer lending

More specialized in trade, transaction banking, and institutional clients • Strongly aligned with government and regional economic objectives

For users seeking stability, regulatory clarity, and cross‑border relevance, this positioning is a strategic advantage.

FAQs

Who owns Al Masraf Bank?

Al Masraf is owned by the Emirates Investment Authority (42.28%), Libyan Foreign Bank (42.28%), and La Banque Extérieure d’Algérie (15.44%).

Who is the CEO of Al Masraf?

Fuad Mohamed has served as Chief Executive Officer since February 2025.

How do I activate my Al Masraf debit card?

Debit cards are activated via the official IVR system by calling 600 52 99 99 and following the automated instructions.

Is Al Masraf an Islamic bank?

Al Masraf operates both conventional banking services and a dedicated Islamic banking window offering Sharia‑compliant products.

Can non‑UAE nationals open an account with Al Masraf?

Yes, subject to UAE residency status, valid documentation, and Central Bank compliance requirements.

Does Al Masraf support SMEs and startups?

Yes. SME banking, cash management, payroll, and trade finance are core focus areas for the bank.

Can I open a Saudi bank account through Al Masraf?

No. Saudi bank accounts are regulated by Saudi authorities and must be opened through licensed Saudi banks.

Conclusion

Al Masraf is not designed to be the loudest retail bank in the UAE. Instead, it functions as a quietly strategic institution, bridging government interests, corporate finance, Islamic banking, and digital delivery.

For residents seeking stable personal banking, businesses requiring transaction expertise, and investors analyzing UAE financial infrastructure, Al Masraf represents a bank whose relevance lies in function, governance, and long‑term regional integration, rather than mass‑market scale.