Multibank Group and Mashreq team to launch instant payments service

By Gloria Mathias

MultiBank Group, the financial derivatives institution headquartered in Dubai, has announced its strategic partnership with Mashreq to launch the latest technology enabling instant payment solutions.

This collaboration aligns with MultiBank Group’s dedication to providing advanced, user-friendly financial services. It seeks to enhance transactional efficiency and improve operational transparency for a diverse global clientele of over 1 million traders across 90 countries.

By integrating Mashreq’s advanced payment processing capabilities, MultiBank Group will be able to provide its clients with nearly instantaneous deposit and withdrawal services, available 24/7.

“Our collaboration with Mashreq represents a significant milestone in our commitment to digital innovation,” said Naser Taher, Founder and Chairman of MultiBank Group. “The integration of Mashreq’s instant payments service will enhance our transaction processes, providing our customers with quicker and more dependable services.”

Licensed by over 15 financial regulators globally, MultiBank Group is setting new industry standards with its user-friendly online trading platforms, leveraging technology. This latest partnership further elevates its position as an innovative leader in the financial services industry that prioritizes security and efficiency.

Founded in California, USA, in 2005, MultiBank Group has grown to command a daily trading volume exceeding $12.1 billion, serving over 1 million customers. MultiBank Group has evolved into one of the largest online financial derivatives providers globally, offering various brokerage services and asset management solutions. The group’s trading platforms offer up to 500:1 leverage on a diverse range of products, including Forex, Metals, Shares, Commodities, Indices, and Digital Assets.

Recently, Mashreq has onboarded India’s Profinch as a strategic technology partner for its global expansion, with the FinTech company anchoring its key technology transformations.

The partnership will involve Mashreq and Profinch collaborating on technology transformation programs to strengthen the former’s position in markets and aid global expansion. As part of the strategic alliance, Profinch will implement Oracle’s corporate and digital banking products in the Payments, Trade, and Digital Experience domains across Oman, Pakistan, the US, the UK, and Hong Kong.