Mashreq Bank
traditional bank
Mashreq Bank is one of the UAE's oldest and most established private banks, founded in 1967 and headquartered in Dubai. It serves retail, SME, and corporate customers across the UAE and maintains a presence in Egypt, Kuwait, Bahrain, Qatar, India, Hong Kong, and the US. Retail accounts require UAE residency — personal accounts are not available to non-residents. The bank is FATCA-compliant and accepts US persons resident in the UAE, making it a viable option for American expats living in the country. Multi-currency capabilities cover AED, USD, EUR, GBP, and select other currencies. Mashreq Neo, the bank's digital arm, offers a fully app-driven account with zero monthly fees, a Visa debit card, real-time notifications, and fee-free international transfers up to specified limits. Business accounts are available for UAE-registered entities, including free-zone companies, and support trade finance and cash-management services. CBUAE-regulated with deposit protection under UAE frameworks.
Details
- Headquarters
- United Arab Emirates
- Currencies
- 8
- Monthly Fee
- Free
- Non-Residents
- Not accepted
- US Persons
- Accepted
- Debit Card
- Available
- Business Account
- Available
Opening Requirements
- •UAE residency visa
- •Emirates ID
- •Passport
- •Proof of income or salary certificate
- •Minimum salary of AED 5,000/month for standard accounts (Neo and Elite tiers vary)
Restricted Nationalities
Not available to nationals of: north-korea, iran, syria
Nationality Acceptance Matrix
Who this provider will and will not onboard. Refusals are listed first. Sourced from the provider's own published terms and recent public onboarding reports — confirm with the provider before applying.
| Nationality | Accepted | Notes |
|---|---|---|
| iran | NO | Blocked — UN/UAE Iran sanctions; Mashreq strictly complies with CBUAE sanctions guidance. |
| cuba | NO | Blocked — OFAC Cuba sanctions (USD-clearing risk). |
| north korea | NO | Blocked — UN/OFAC DPRK sanctions. |
| syria | NO | Blocked — UN/UAE sanctions on Syria. |
| us | YES | US persons accepted — Mashreq is FATCA-compliant; additional W-8BEN/W-9 documentation and FATCA disclosure forms required; UAE residency visa mandatory. |
| uk | YES | UK nationals accepted; UAE residency visa required for personal account opening. |
| eu | YES | EU nationals accepted; UAE residency required; standard KYC documentation applies. |
| russia | YES | Russian nationals historically accepted; UAE has not adopted Western sanctions against Russia; individual SDN screening applies; enhanced due diligence expected. |
| china | YES | Chinese nationals accepted; significant Chinese expat community served across Mashreq's UAE branches. |
| myanmar | YES | Accepted with standard enhanced due diligence; UAE does not impose blanket Myanmar sanctions. |
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Sources & last verified
- Last verified 2026-06-15