Latest news with #JoelVanDusen
Al Bawaba
4 days ago
- Business
- Al Bawaba
Mashreq structures Debut Sustainability-Linked Financing for Galadari Brothers
Mashreq, a leading financial institution in the MENA region, has structured the first Sustainability-Linked Financing (SLF) for Galadari Brothers, a UAE-based leading conglomerate, marking a significant step in advancing their sustainability journey. As one of the UAE's most diversified and longstanding business groups – with operations spanning media, heavy equipment, food and beverage, motors, engineering, projects, facility management, sports, travel and hospitality, real estate, and other ventures – Galadari Brothers is accelerating its commitment to a robust sustainability strategy, further engaging stakeholders through clear KPIs and ambitious under Mashreq's bilateral lending relationship with the group, this transaction represents one of the largest bilateral SLF deals for a local UAE conglomerate till date. The SLF introduces performance-based pricing linked to three core Key Performance Indicators (KPIs) centered around resource efficiency, circular economy and internal capacity building and institutional alignment with ESG principles. The financing builds on the group's inaugural green loan previously extended by Mashreq in 2023 to support energy-efficiency retrofits at Galadari's flagship hotel in Sri Van Dusen, Group Head of Corporate & Investment Banking, at Mashreq said: 'This transaction with Galadari Brothers, a name synonymous with industrial and commercial growth in the UAE, demonstrates how sustainability can be embedded into core financing structures. As long-term partners, we are proud to support the group's Sustainability ambitions and to play a catalytic role in the region's transition toward more responsible capital markets. Sustainability-linked finance is the future of corporate lending, and we are committed to helping clients lead from the front.'Faisal AL Shimmari, Head of ESG and Corporate Strategy at Mashreq, commented: 'This deal is a clear example of how sustainability-linked finance can be applied across complex, multi-sector businesses—not just to drive environmental outcomes, but to empower people and communities. As one of Mashreq's largest bilateral transactions to date, it reflects a broader shift in the region, where more companies are aligning financing with their ESG ambitions in ways that directly impact lives. This SLF with Galadari Brothers builds on Mashreq's commitment to helping clients achieve measurable ESG outcomes that support both national priorities and global sustainability goals. By embedding human-centricity into our financial instruments—through inclusive KPIs, transparent governance, and stakeholder engagement—we ensure that sustainability is not just about metrics, but about meaningful progress for individuals, families, and society at large.'Mohammed Galadari, Co-Chairman and Group CEO of Galadari Brothers, said: 'This milestone Sustainability-Linked Financing deal marks an important step forward in our ongoing efforts to integrate environmental, social, and governance principles across all areas of our business. As we continue to grow and diversify, aligning our financial strategy with clear ESG goals is both a business priority and a reflection of the values we stand for. Our partnership with Mashreq reinforces our commitment to building a more sustainable future for our businesses, our people, and the communities we serve, while also supporting the UAE's broader vision for responsible and inclusive growth.'R V Ramanan, Group Chief Financial Officer of Galadari Brothers, said: 'This landmark transaction with Mashreq marks a significant step in aligning the Group's financing strategy with our ESG ambitions. It reflects our vision to progressively transition toward a fully green and sustainability-linked model. More than just a transaction, it reinforces our long-term commitment to responsible growth—integrating sustainability into the core of how we fund our expansion across sectors and regions.' This transaction supports Mashreq's broader sustainable finance strategy and contributes to its goal of facilitating USD 30 billion in sustainable finance by 2030. The bank has played a leading role in several notable ESG transactions in the region, including the largest sustainability-linked loan in the region to date. The facility is also part of Mashreq's Climb2Change initiative, a global platform that unifies the bank's efforts in sustainable finance, responsible banking, and social impact, reinforcing its position as a leader in sustainable banking across the MENA region.
Al Bawaba
20-05-2025
- Business
- Al Bawaba
Mashreq Unveils Next-Generation API Marketplace to Accelerate Digital Innovation
Mashreq, a leading financial institution in the MENA region, has launched its next-generation API Marketplace, a dynamic platform designed to empower corporate clients, developers and fintechs with seamless access to Mashreq's suite of APIs. The Application Programming Interface (API) is a technical code that connects and allows seamless data exchange between different systems. They are transforming how corporates manage payments, receivables and liquidity, providing real time visibility on their cash positions and payments.'The API Marketplace is a key pillar in our broader digital strategy.' said Joel Van Dusen, Head of Corporate and Investment Banking Group at Mashreq. 'At Mashreq, we are committed to driving the future of open banking and digital transformation through APIs. Our new API Marketplace is not just a technology platform —it's a strategic enabler that allows our clients and partners to co-create, innovate, and scale faster than ever before.'The platform introduces several groundbreaking features, including automated developer registration, real-world case studies, and a flexible subscription model— aimed at fostering innovation through a more agile and collaborative digital API Marketplace comes at a time when API adoption is experiencing exponential growth in the UAE and the Central Bank has been actively promoting open finance through initiatives like the Open Finance Framework, encouraging banks to adopt API standards and collaborate with fintechs to innovate new business solutions.'The launch or API Marketplace marks a significant milestone in our digital journey,' said Vivek Batra, Global Head of Global Transaction Banking (GTB) at Mashreq. 'It is designed with a developer-first mindset, offering intuitive tools, sandbox environments, and comprehensive documentation. It enables us to extend our services beyond traditional channels and integrate seamlessly into the digital journeys of our customers, exploring new ideas, partnerships, and new business models. By simplifying access and offering real-world use cases, we are making it easier for developers and businesses to build the next generation of financial solutions.' With this launch, Mashreq continues to reinforce its position as a digital pioneer in the region, offering clients and partners the tools they need to thrive in an increasingly connected world.
Fintech News ME
20-05-2025
- Business
- Fintech News ME
Mashreq Launches API Marketplace to Support Open Banking
Mashreq has launched its next-generation API Marketplace, a platform aimed at providing corporate clients, developers, and fintechs with access to Mashreq's suite of APIs. APIs, or Application Programming Interfaces, are technical tools that enable data exchange between systems, streamlining how businesses handle payments, receivables, and liquidity. The platform offers real-time visibility into cash positions and transactions. 'The API Marketplace is a key pillar in our broader digital strategy,' said Joel Van Dusen, Head of Corporate and Investment Banking Group at Mashreq. 'At Mashreq, we are committed to driving the future of open banking and digital transformation through APIs. Our new API Marketplace is not just a technology platform, it's a strategic enabler that allows our clients and partners to co-create, innovate, and scale faster than ever before.' The platform includes features such as automated developer registration, case studies, and a flexible subscription model. It is designed to promote collaboration and agility in digital finance. The launch aligns with increasing API adoption in the UAE, supported by initiatives like the Central Bank's Open Finance Framework, which encourages banks to adopt API standards and work with fintechs to develop new business solutions. With this initiative, Mashreq aims to strengthen its role in the region's digital financial infrastructure by offering tools for integration, experimentation, and innovation.
Zawya
19-05-2025
- Business
- Zawya
Mashreq unveils next-generation API marketplace to accelerate digital innovation
Dubai, UAE – Mashreq, a leading financial institution in the MENA region, has launched its next-generation API Marketplace, a dynamic platform designed to empower corporate clients, developers and fintechs with seamless access to Mashreq's suite of APIs. The Application Programming Interface (API) is a technical code that connects and allows seamless data exchange between different systems. They are transforming how corporates manage payments, receivables and liquidity, providing real time visibility on their cash positions and payments. 'The API Marketplace is a key pillar in our broader digital strategy.' said Joel Van Dusen, Head of Corporate and Investment Banking Group at Mashreq. 'At Mashreq, we are committed to driving the future of open banking and digital transformation through APIs. Our new API Marketplace is not just a technology platform —it's a strategic enabler that allows our clients and partners to co-create, innovate, and scale faster than ever before.' The platform introduces several groundbreaking features, including automated developer registration, real-world case studies, and a flexible subscription model— aimed at fostering innovation through a more agile and collaborative digital ecosystem. Mashreq's API Marketplace comes at a time when API adoption is experiencing exponential growth in the UAE and the Central Bank has been actively promoting open finance through initiatives like the Open Finance Framework, encouraging banks to adopt API standards and collaborate with fintechs to innovate new business solutions. 'The launch or API Marketplace marks a significant milestone in our digital journey,' said Vivek Batra, Global Head of Global Transaction Banking (GTB) at Mashreq. 'It is designed with a developer-first mindset, offering intuitive tools, sandbox environments, and comprehensive documentation. It enables us to extend our services beyond traditional channels and integrate seamlessly into the digital journeys of our customers, exploring new ideas, partnerships, and new business models. By simplifying access and offering real-world use cases, we are making it easier for developers and businesses to build the next generation of financial solutions.' With this launch, Mashreq continues to reinforce its position as a digital pioneer in the region, offering clients and partners the tools they need to thrive in an increasingly connected world. About Mashreq Mashreq is more than half a century old, yet proudly thinks like a challenger, startup, and innovator. Mashreq has pioneered key innovations and developments in banking, starting with entry-level digital-first customers all the way to powering some of the region's most prominent corporations and wealth accounts. The bank's mandate is to help customers find their way to Rise Every Day, partnering through the highs and lows to help them achieve their goals and unlock their vision of success. Reassuringly present in major financial centers of the world, Mashreq's home and global HQ remains in the Middle East, offering services whenever and wherever opportunity takes its customers. Mashreq has been recognized as the fastest-growing Middle East brand, by Banking 500 rankings for 2024 by Brand Finance. Find your way to Rise Every Day at: For media inquiries, please write to: media@
