Archive · 2 Jul 2025
Mashreq Bank to Open IBU in GIFT City, Gujarat
Mashreq Bank, a bank from the UAE, is opening a new branch in GIFT City, a special financial zone in India.
This will be the first UAE-based bank to do so.
They're planning to open it by the end of 2025, if everything goes as planned.
This new branch will help businesses by offering services like loans in foreign currencies.
It's part of Mashreq's plan to expand its business in India and support trade and investment between India, the UAE, and other countries, making it easier for companies to manage their money internationally.
Mashreq Bank is the first UAE bank approved to open an IBU in GIFT City.
The branch is expected to launch by late 2025, subject to regulatory approvals.
Mashreq has secured approvals from UAE Central Bank and SEZ authorities.
The GIFT City branch will offer services including foreign currency loans and trade finance.
The new IBU aims to support trade and investment flows between India, UAE, and other regions.
- Who
- Mashreq Bank
- What
- Mashreq Bank opening an International Financial Services Centre Banking Unit (IBU)
- When
- Expected by fourth quarter of 2025
- Where
- GIFT City, Gujarat
- Why
- To support trade and investment and expand its presence in India
- Bank
- Mashreq Bank
- Type of Branch
- International Financial Services Centre Banking Unit (IBU)
- Location
- GIFT City, Gujarat
- Expected Launch
- Fourth quarter of 2025
- Services
- Foreign Currency Loans, Trade Finance
