The new service provides access to international markets including foreign equities, gold trading and foreign currency accounts.
Mashreq Bank has launched Mashreq Snapp to offer customers instant global investments and return on investment through its mobile banking app, becoming the first bank in the Middle East region to provide the service.
Aref Al-Ramli, the Head of Digital Banking and Innovation at Mashreq Bank, said, “The launch of this new service effectively reduces barriers to trading and investing globally as well as simplifies the investment process by enabling instant account openings and trades over a diverse range of geographies.”
Mashreq Snapp allows customers to open and trade various investment products.
Similarly, in addition to instant trading accounts, customers can also make deposits from their original account, begin trading immediately as well as withdraw any profits they make instantaneously.
The lender stated that the mobile application also features highly competitive pricing schemes across a number of international stocks, currencies, and commodities allowing real-time trading as well as access to charts, technical analysis tools and historical pricing data.
The mobile application allows customers to trade in more than 30,000 stocks across over 100 stock exchanges around the world such as London and New York, added Al-Ramli.