Mashreq Neo has partnered with India's Federal Bank to facilitate end-to-end digital Non-Resident Indian (NRI) account openings for UAE customers. The partnership will provide a holistic experience for NRI customers to bank digitally within UAE and also in their home country, the official statement noted.

According to a press statement, Mashreq customers will be allowed to open a Federal Bank NRI account by logging into the Mashreq Neo app. However, they need to have valid Emirates ID, Pan card and Indian passport to meet KYC procedures. Customers will be able to view the balance of their UAE and Indian accounts online and conduct free money transfers to their NRI Accounts using the quick remit feature.

Mashreq's executive vice president and head of Neo and personal banking, Radu Topliceanu, noted that Mashreq Neo became the first to launch an NRI account opening with an Indian bank. "Now we are taking our proposition fully digital. Together with Federal Bank, we aim to promote a unified banking experience that meets the everyday needs of NRIs in the UAE and provides them with unprecedented convenience," Topliceanu said.

Federal Bank's executive director Shalini Warrier, expressed delight about the association and said, "Federal Bank is proud to be associated with Mashreq Bank to offer an end-to-end digital account opening experience. Our partnership with Mashreq Bank is yet another example of our commitment to the Indian diaspora in UAE”.

In April 2022, the banks established a partnership for Indian customers of Mashreq Neo in the UAE to open an NRI Account with Federal Bank.