Al Masraf Bank Review
A 50-Year-Old UAE State Bank with Just 5 Branches – Right for You?
Editor’s Verdict for Al Masraf
Al Masraf – the Arab Bank for Investment & Foreign Trade (PJSC) – is one of the oldest state-owned banks in the UAE, established in July 1976 under Union Decree No. 50 as a joint venture between the UAE, Libya and Algeria. Headquartered at Al Masraf Tower on Hamdan Street in Abu Dhabi, the bank serves retail, SME and corporate clients across 5 branches in the UAE through a dual model combining conventional and fully Shariah-compliant Islamic banking, supervised by its own Internal Shari’ah Supervisory Committee. Al Masraf carries a Fitch A rating and is one of the few UAE banks with multi-country sovereign ownership.
✓ Best For
- Corporate clients running trade finance operations with Libya, Algeria and other MENA markets
- UAE residents looking for a stable, government-backed bank with a conservative, low-risk profile (Fitch A rated)
- Borrowers seeking competitive personal loans starting from 5,49% p.a. (fixed rate) with the option to defer the first instalment
- Customers who want both conventional and Islamic banking products under one roof
- SMEs and corporates needing trade finance, working capital and project financing
✗ Not Ideal For
- Customers who need a wide branch footprint – Al Masraf operates only 5 physical branches across the UAE
- Digital-first clients used to challenger-bank experiences (Liv., Mashreq Neo, Wio)
- Residents living in Ajman, Fujairah, Ras Al Khaimah or Umm Al Quwain – no physical branch presence there
- Tourists and non-residents looking for fast, simple onboarding
Quick Facts
| Bank Type | Commercial / Retail / SME / Corporate / Islamic Banking |
|---|---|
| Founded | July 1976 (Union Decree No. 50 of 1976; joint venture of UAE, Libya & Algeria) |
| Legal Form | Public Joint Stock Company (PJSC), regulated by the Central Bank of the UAE |
| Headquarters | Al Masraf Tower, Hamdan Street, P.O. Box 46733, Abu Dhabi, UAE |
| Branch Network | 5 branches across the UAE (Abu Dhabi, Al Ain, Dubai x2, Sharjah) |
| ATM Network | ATMs, CCDMs and self-service machines across the UAE (verify locations via the official branch locator) |
| Credit Rating | Fitch: A (long-term, investment grade) |
| Mobile App | Al Masraf Mobile Banking (iOS & Android) |
| Online Banking | Al Masraf Retail Online Banking |
| Languages Supported | English, Arabic |
| SWIFT/BIC Code | ABINAEAA (All Al Masraf Swift Codes) |
| CEO | Mr. Fuad Mohamed |
| Chairman | H.E. Mohamed Saif Al Suwaidi |
| Shareholding Structure | Emirates Investment Authority – 42,28%; Libyan Foreign Bank – 42,28%; Banque Extérieure d’Algérie – 15,44% (per Al Masraf interim financials 2025) |
| Regulator | Central Bank of the UAE |
📄 Products & Services
📍 Branch Locator
Al Masraf Pros & Cons
✓ Pros
- Strong sovereign backing
Multi-country state ownership (UAE, Libya, Algeria) gives the bank exceptional stability and credibility; Emirates Investment Authority is the single largest UAE shareholder - Fitch A rating
Investment-grade long-term rating reflects strong capital adequacy (CET1 of 20,4% in Q1 2025) and conservative risk profile - Dual banking model
Full Shariah-compliant Islamic banking with its own Internal Shari’ah Supervisory Committee, plus conventional products in one institution - Trade finance expertise
Historical specialisation in letters of credit, guarantees and cross-border trade with North Africa and MENA - Competitive personal loan rates
Fixed rate from 5,49% p.a., up to 20x monthly income, with the option to defer the first instalment - Modern payment ecosystem
Full support for Apple Pay, Google Pay, Samsung Wallet and the UAE’s national instant payment system Aani
✗ Cons
- Limited branch network
Only 5 physical branches in the UAE – none in Ajman, Fujairah, Ras Al Khaimah or Umm Al Quwain - Lower brand visibility
Less mass-market recognition compared with Emirates NBD, FAB or ADCB - Traditional branch hours
Standard business hours only, with no weekend service – verify exact times on the official branch locator - Smaller premium offering
Limited private banking and wealth management products for high-net-worth clients - Less developed digital UX
Mobile app is functional but lacks the gamification and AI features of challenger banks
Al Masraf Popular Products
Al Masraf Personal Loan
Most Popular
Who it’s for: Salaried UAE residents looking for a flexible, competitively priced personal loan with the option to consolidate existing debt.
Al Masraf’s personal loan is one of the most attractive products in its retail line-up. The bank offers a fixed rate starting from 5,49% p.a., loan amounts up to 20x the borrower’s monthly income, and flexible structures including fresh finance, top-ups and buy-outs from other UAE banks.
A key differentiator is the option to defer the first instalment for up to a few months, easing cash flow at the start of repayment. Applications can be submitted online or at any of the 5 branches with Emirates ID, passport, salary certificate and recent bank statements.
Al Masraf World Elite Credit Card
Premium
The World Elite Credit Card is Al Masraf’s flagship premium card, designed for high-spending residents who value travel, lifestyle and concierge benefits. It comes with global airport lounge access, travel insurance, purchase protection and a rewards programme that can be redeemed across Al Masraf Rewards categories.
The card supports Apple Pay, Google Pay, Samsung Wallet and Aani for instant in-app payments. Supplementary cards are available so cardholders can extend the benefits to family members. Eligibility is based on minimum salary thresholds and Al Masraf’s internal credit policy.
Al Masraf Islamic Banking
Shariah-Compliant
Who it’s for: Customers – retail or corporate – who require fully Shariah-compliant banking with strong governance.
Al Masraf operates a full Islamic banking arm overseen by an Internal Shari’ah Supervisory Committee. The offering covers Islamic current and savings accounts, Murabaha and Ijarah financing, personal and home finance, Wakala deposits, Shariah-compliant credit cards and a complete corporate suite including Islamic trade finance, working capital and SME finance.
Islamic profit rates are published transparently on the bank’s website and reviewed regularly. Customers can switch between conventional and Islamic banking within the same client relationship, which is rare in the UAE market.
Al Masraf Key Fees & Charges
Exact fees are published in Al Masraf’s Schedule of Charges and may change. Below is a market-aligned overview of the main charges to watch for:
Digital Experience
Al Masraf Mobile Banking App
The Al Masraf Mobile Banking app is the primary digital channel for retail customers. It covers most everyday banking needs without a branch visit, including balance and transaction views, internal and external transfers, bill payments and card controls.
What works well: Clean account overview, support for UAEFTS and Aani instant transfers, integration with Apple Pay, Google Pay and Samsung Wallet, and digital onboarding for selected products. Emirates ID can be updated in-app, which reduces the need to visit a branch.
What could be better: The app does not yet offer the gamified savings, in-app investment marketplaces or AI-driven money insights found in challenger banks. Some service requests still require a branch visit or call to the contact centre.
Online Banking Portals
Al Masraf provides four separate web portals tailored to specific client segments: Retail Online Banking for individuals, Corporate Online Banking for business clients, Corporate Cheque Scanning and the E-Guarantee Portal. The segmentation is helpful for power users but can feel fragmented for clients with mixed personal and business needs.
Al Masraf Contact Information & Support
Customer Service
Main Contact (24/7)
International Number
Collections Department
Email Support
Branch Operating Hours
Complaints Escalation
Complaints & Customer Care
Headquarters
Al Masraf Tower, Hamdan Street
P.O. Box: 46733
Abu Dhabi, UAE
Quick Actions
Al Masraf Branch Network
Al Masraf operates 5 full-service branches across 4 emirates of the UAE, as confirmed by the official branch locator on almasraf.ae. All branches operate under the same central P.O. Box (46733) and share a single 24/7 contact number (+971 60 052 9999). In emirates without a physical branch (Ajman, Ras Al Khaimah, Fujairah, Umm Al Quwain), Al Masraf customers can access cash and deposit services through the bank’s ATM and CCDM network and partner exchange houses.
Abu Dhabi
| Branch | Address |
|---|---|
| Abu Dhabi Head Office | Al Masraf Tower, Hamdan Street, P.O. Box: 46733, Abu Dhabi, UAE |
| Al Ain Branch | Al Masraf Tower, Salahuddeen Al Ayyubi Street, Al Mudeef Area, P.O. Box: 46733, Al Ain, UAE |
Dubai
| Branch | Address |
|---|---|
| Sheikh Zayed Road Branch | Sheikh Zayed Road, P.O. Box: 46733, Dubai, UAE |
| Deira Branch | Al Masraf Tower, Baniyas Street, Deira, P.O. Box: 46733, Dubai, UAE |
Sharjah
| Branch | Address |
|---|---|
| Sharjah Branch | Al Masraf Tower, King Abdul Aziz Street, Al Qasimiyah, P.O. Box: 46733, Sharjah, UAE |
Information may change – verify current terms on the official Al Masraf website (almasraf.ae) before making financial decisions. This page is for informational purposes only and does not constitute financial advice.
FAQ – Al Masraf Bank
How do I open an Al Masraf account as a UAE resident?
UAE residents need a valid passport (minimum 6 months validity), Emirates ID, proof of address (utility bill, Ejari or Tawtheeq contract) and a salary certificate from their employer. Applications can be submitted at any of the 5 Al Masraf branches or initiated online via the bank’s website. Processing typically takes 1-3 business days for straightforward applications.
Can non-residents open an account with Al Masraf?
Al Masraf primarily serves UAE residents and corporate clients. Non-resident accounts are considered on a case-by-case basis and may require higher minimum balances, additional documentation and an in-person visit to a branch. Contact the Head Office in Abu Dhabi for the latest non-resident eligibility criteria.
What is the Al Masraf SWIFT code?
The main SWIFT/BIC code for Al Masraf is ABINAEAA (or ABINAEAAXXX in the 11-character format). The Trade Finance division uses the extended code ABINAEAATFS. A full list of branch codes is available on our dedicated Al Masraf SWIFT codes page.
How many branches does Al Masraf have?
Al Masraf operates 5 physical branches in the UAE: the Head Office in Abu Dhabi (Hamdan Street), one branch in Al Ain, two in Dubai (Sheikh Zayed Road and Deira) and one in Sharjah (Al Qasimiyah). This is confirmed by the bank’s interim financial statements (Q1 2025: “five branches”) and the official branch locator on almasraf.ae.
What are Al Masraf’s branch operating hours?
Al Masraf branches operate during standard UAE business days, with no service on weekends. Exact opening and closing times can vary by branch and should be confirmed on the official branch locator at almasraf.ae/branch-locator. The 24/7 contact centre is available on 600 52 9999 outside branch hours.
What is the minimum salary for an Al Masraf personal loan?
The minimum salary requirement depends on the loan package and customer category. Al Masraf advertises a personal loan rate starting from 5,49% p.a. (fixed), with loan amounts up to 20x the customer’s monthly income and an option to defer the first instalment. Exact eligibility, including minimum salary, employer list and DBR limits, is confirmed during the application process.
Does Al Masraf offer Islamic banking?
Yes. Al Masraf operates a full Islamic banking arm with its own Internal Shari’ah Supervisory Committee. The Islamic offering covers personal accounts and finance, Murabaha and Ijarah products, Wakala deposits, Shariah-compliant cards, plus a complete corporate suite (Islamic trade finance, working capital and SME finance). Customers can hold both conventional and Islamic products within the same relationship.
Does Al Masraf support Apple Pay, Google Pay and Aani?
Yes. Al Masraf eligible cards work with Apple Pay, Google Pay and Samsung Wallet, and the bank supports the UAE’s national instant payment system Aani via its mobile banking app. Activation is done from within the Al Masraf Mobile Banking app or the device’s wallet app.
Who owns Al Masraf?
Al Masraf has a tri-national state shareholding structure. According to the bank’s 2025 interim financial statements, Emirates Investment Authority owns 42,28%, Libyan Foreign Bank (wholly owned by the Central Bank of Libya) holds 42,28% and Banque Extérieure d’Algérie (an Algerian state bank) owns 15,44%. This makes Al Masraf one of the few UAE banks with multi-country sovereign ownership.
What if my complaint is not resolved by Al Masraf?
If a complaint remains unresolved 30 days after it has been raised with Al Masraf, you may escalate it to Sanadak, the UAE’s independent financial ombudsman, via sanadak.gov.ae. Before escalating, make sure you have written confirmation of your complaint reference from the bank.
Does Al Masraf offer cryptocurrency services?
Al Masraf does not currently offer direct cryptocurrency trading, custody or related retail products. The bank operates as a conventional and Islamic commercial bank under the regulation of the Central Bank of the UAE.
