Mashreq, a UAE-based financial institution operating across the MENA region, has announced the launch of a fully digital cross-border account opening service for UAE-based customers of Egyptian nationality.
The service allows eligible customers to open a Mashreq Egypt account instantly and entirely remotely through the Mashreq UAE mobile app, without requiring physical documents or branch visits in Egypt.
The service is available to Egyptian nationals holding a NEO, Gold, or Private account with Mashreq UAE. Once activated, customers gain access to accounts denominated in Egyptian pounds and US dollars, a unified global dashboard within the Mashreq UAE app displaying balances across both UAE and Egypt accounts, and a free debit card with high withdrawal and spending limits.
Zero-fee remittances and unified account management
A central feature of the offering is Quick Remit, a remittance service available exclusively to Mashreq account holders that enables instant, fee-free transfers from a Mashreq UAE account to the Mashreq Egypt account on a 24/7 basis. Additional benefits include lifestyle perks covering dining, entertainment, and travel offers.
Mashreq describes this as the first instance of a UAE bank enabling non-resident Egyptians to open a bank account in Egypt fully digitally. The launch addresses a practical challenge faced by the Egyptian expatriate community in the UAE, where accessing banking services in Egypt has historically required physical presence or document submission in person.
The Egypt corridor is a significant remittance route. Egypt is one of the largest recipients of remittances in the MENA region, and the UAE hosts a substantial Egyptian diaspora population. Providing fee-free, instant transfers between accounts at the same institution removes a key cost and friction point for that community.
Commenting on the news, Fernando Morillo, Group Head of Retail Banking at Mashreq, said the service marks a significant milestone in reimagining banking for customers, combining convenience, speed, and zero-fee remittances. Ghazal AlSakaal, Global Head of Digital Strategic Partnerships at Mashreq, said the service breaks down traditional barriers in cross-border banking through technology-led solutions.
