Mashreq establishes $1b CD programme in Hong Kong

Dubai: Mashreq Bank said it has established a $1 billion (Dh3.67 billion) multi-currency Certificate of Deposit Programme (CD programme) in Hong Kong.

The CD programme, which aims to provide access to new liquidity pools in Asia-Pacific, is offered in multiple currencies.

“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 International Banking Group, Mashreq in a statement.

The CD programme has been assigned a short term rating of P-2 by Moody’s Investor Relations, and will help Mashreq raise funds in the US dollar, the euro and Asian currencies, including renminbi when needed.