April 11, 2018 / 9:29 AM / 3 months ago

UAE's Mashreq bank launches $1 bln multi-currency CD programme in Hong Kong

DUBAI, April 11 (Reuters) - Dubai-based Mashreq Bank said on Wednesday it has established a $1 billion multi-currency certificate of deposit programme in Hong Kong.

The move will help Mashreq raise funds in US dollars, euros and Asian currencies, including the yuan, it said.

“The introduction of this CD programme will entice more institutional investors across Asia Pacific to consider Mashreq as a serious partner for their operations in the region,” said, Jan-Willem Sudmann, head of Mashreq’s international banking group. (Reporting By Tom Arnold; Editing by Saeed Azhar)

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