Al Masraf Celebrates the UAE National Flag Day
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Thimar Issue 11 | January 2020 | Arab Bank for Investment & Foreign Trade Al Masraf Celebrates the UAE National Flag Day Fazaa and Al Masraf Sign a Memorandum Al Masraf’s Trade Finance DLD Signs Deal with of Understanding (MOU) Department Receives ISO 9001:2015 Al Masraf to Manage OA Accounts 2 CEO’S MESSAGE I am pleased to present to you the 11th edition of Thimar Magazine, which is periodically issued by Al Masraf. This new edition coincides with the start of 2020 and covers numerous topics that we hope you will enjoy while flipping through its pages. The U.A.E. economy also made excelled in a number of global competitiveness indices, which reflects its prioneering and succesful efforts in the path towards sustainable development, as prescribed by our country’s wise leadership. In addition to this, our leadership has worked towards creating a culture of scientific endeavor and motivating the youth to pursue space science and technology. In September 2019, Emirati astronaut Hazza Al Mansouri launched to the International Space Station, becoming the first Emirati and Arab astronaut to complete this historic mission. At Al Masraf, we continued in our path of growth and development. We launched a number of new initiatives and services as part of our Digital Transformation Programme to enhance the banking experience of our clients. We also pursued our efforts to improve our infrastructure and work environment and to develop our national human resources. In fact, our Emiratisation strategy exceeded the requirements set by the Central Bank. We also launched new banking services and products that fulfill the aspirations of our clients. 2020 marks the 45th anniversary of the establishment of Al Masraf, which first began its operations in 1975. Our institution has played a vital role in supporting the U.A.E.’s economic development. I am certain that Al Masraf’s well-founded strategy and our commitment to provide excellent banking services and to abide by our Government’s standards will enable us to achieve further success in the future. Finally, I would like to express my heartfelt thanks and gratitude to the Executive Management team and all staff members at Al Masraf for their dedication and sincere efforts. Faisal Galadari Chief Executive Officer GENERAL SUPERVISOR INDEX Abderrezak Trabelsi AGM – BPR & Quality 4 Al Masraf Board of Directors Meet to Announce the Q3 Result EDITORIAL TEAM 9 DLD Signs Deal with Al Masraf to Manage OA Accounts Hussain Al Qallaf Rejoy Koithara Maitha Al Attar 10 “Fazaa” and Al Masraf Sign a Memorandum of Understanding Designed & Published by: 13 Core Banking T24 Go Live & ACB Ceremony 15 Al Masraf Celebrates 48th UAE National Day 3 ACHIEVEMENTS well-established governance standards will always help Al Masraf Al Masraf Board of Directors Meet outpace its peers. Our focus will always be to deliver sustainable to Announce the Q3 Result for the growth and improving long-term financial performance.” Financial Year 2019. Al Masraf’s balance sheet registered healthy growth during the first three quarters of 2019 continuing to outpace industry wide The Board of Directors held its sixth meeting for the year 2019 on growth, with 11% increase in Net Loans and 12% increase in 3rd November headed by Mr. Farhat Omar Ben Gdara, Chairman of Customer Deposits over the year-end. The Loan portfolio remains the Board of Directors. The Board discussed several issues related well diversified by business segment and economic sector, while to Al Masraf and expressed its satisfaction with the third quarter the liability base offers stable and diversified sources of funding. financial results. Al Masraf stood at highly competitive positions in both the above areas among its peers. Faisal Galadari, Chief Executive Officer, commented on the results: “We are pleased with Al Masraf’s performance for the nine The results for the nine month period are encouraging and reflect months ended Sept 2019. The year to date net income increased the continuous and successful execution of Al Masraf’s long term by 12% to reach AED 460 million as compared to AED 412 million strategy. In line with this strategy and with a vision for the future, over the prior year, with a solid return on equity of 12%, despite a the bank has concentrated its efforts to invest heavily in technology, challenging economic environment and rising provisions.” operations, risk and compliance. The main focus is to achieve He added: “amidst heightened economic challenges, we still operational efficiency and transformation in digital technology to believe that our proven strategy, excellence in service and deliver a superior customer service experience. 4 EVENTS Al Masraf Organized a Breast Cancer Awareness Event for its Staff In an effort to raise awareness and reduce the stigma of Breast Cancer through education on symptoms and treatment, Al Masraf, within the framework of its Corporate Social Responsibility, participated in the World Breast Cancer Awareness Month by organizing an awareness event for its staff in the Head Office in Abu Dhabi. The aim of this event was to promote awareness and methods of detection as greater knowledge will lead to earlier detection and better treatment of breast cancer. The event held on October 9th 2019 was attended by Mr. Faisal Galadari, CEO of Al Masraf and the staff members. During the event the participating staff members were shown informative videos with information about Breast cancer and its treatment methods along with statistics to show the seriousness of this issue. The CEO took this opportunity to remind the staff members about the importance of the awareness campaign and early detection. 5 EVENTS Al Masraf Celebrates Emirati Women’s Day This year, U.A.E. marked the fifth Emirati Women’s Day celebra- tion on August 28th 2019, an initiative announced for the first time on 15th August 2015 by her Highness Sheikha Fati- ma bint Mubarak, Chairperson of the General Women’s Union, Supreme Chairperson of the Family Development Foundation and President of the Supreme Council for Motherhood and Childhood. In line with this initiative Al Masraf celebrated the Emirati Women’s Day by honoring all the Emirati women in the bank with a token of appreciation. The theme for this year’s celebration was ‘Women, Icons of Tolerance’, with the aim to highlight and promote the values of tolerance. The Senior Management was delighted to highlight the achievements of the Bank in supporting Emirati women in the banking sector as well as the Bank’s role in providing opportunities to support the professional growth of Emirati women. The CEO commented: “The Emirati women at the Al Masraf have demonstrated their efficiency and excellence in all the tasks they have assumed. They have confirmed their strong presence and outstanding contribution to serving the country and contributing to the success and development of the bank.” Al Masraf Organizes the Live Telecast Landing of UAE’s First Astronaut Hazza Al Mansouri The UAE Astronaut Programme was initiated in 2017 by HH MS-15 spacecraft, which was launched from the Baikonur Sheikh Mohammed bin Rashid Al Maktoum, Vice President Cosmodrome in Kazakhstan, with plans to return to Earth and Prime Minister of the UAE and Ruler of Dubai, and HH aboard Soyuz MS-12 on October 3, 2019. Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Hazzaa Al Mansoori was one of two people selected from Armed Forces, to prepare an Emirati Astronaut for scientific 4,022 candidates, following a series of tests in the UAE space exploration missions, creating a culture of scientific and Russia. His military background helped him pass the endeavor and motivating the youth to pursue space science tests which made him the first Emirati astronaut to the and technology. International Space Station. On April 12, 2019, the Mohammed Bin Rashid Space On the occasion of his landing on October 3, 2019 Al Masraf Centre (MBRSC) announced that it had selected Hazza Al organized an event to live telecast his return to earth. The Mansoori as the prime astronaut for an eight-day mission to event was attended by Al Masraf staff showing their support the International Space Station (ISS). This maked him the for Hazza and the Space Program of the UAE. Everyone first Emirati in space and the first Arab National onboard cheered and waved the UAE Flag as Hazza’s shuttle the ISS. On September 25, 2019 he boarded the Soyuz touched ground safely. 6 EVENTS Al Masraf Participates and Volunteers in Dubai Customs’ “Bag of Tolerance” Back-to-School Initiative Within its efforts to enhance social solidarity, Dubai Customs distributed 400 school bags to students of Al Sa’ada Primary School under the theme “Bag of Tolerance” in the presence and active participation of Ahmed Mahboob Musabih, Director General of Dubai Customs, the Chinese Consul General to Dubai Li Xuhang and his delegation, Ghaya Sultan Al Muhairi, Director of Dubai Educational Zone, Rafi’a bin Ma’dan, School’s Principal and the teachers, along with Al Masraf volunteers. Al Masraf’s participation with Dubai Customs in the event helped the students start the new school year with high morals and helped lift a burden off the shoulders of the parents. The initiative is organized at the beginning of each school year by the Ghayath Volunteer Team and the Corporate Communications Department at Dubai Customs. As part of the event, a number of entertainment activities in Chinese and Arabic took place in a festive ambience. These included an awareness workshop about intellectual property rights and the role played by Dubai Customs in preventing counterfeit items from crossing the border. 7 EVENTS To extend gratitude to volunteers who participated in the department’s initiatives Dubai Customs delegation visits Al Masraf A delegation from Dubai Customs chaired by Fuad Al Shehhi, In a short speech Mr.Al Shahhi thanked Al Masraf and the head of the Ghayath Volunteer Team visited Al Masraf.