MBANK Kyrgyzstan Establishes Correspondent Accounts in UAE, Expanding International Payment Capabilities

MBANK Kyrgyzstan has expanded its international financial operations by establishing direct correspondent accounts in United Arab Emirates dirhams with two prominent UAE banks: Abu Dhabi Islamic Bank and Mashreq Bank. This strategic move follows the bank's successful verification process and demonstrates its growing credibility in the international financial landscape.

The new correspondent accounts will provide MBANK Kyrgyzstan's clients with enhanced payment capabilities and more flexible currency conversion options. Customers can now execute international transactions in UAE dirhams through simplified processes, with distinct procedures for individuals and legal entities.

Individual clients can initiate transfers through the MBANK mobile application by navigating to the 'Payments' section, selecting 'SWIFT-transfers', and specifying transaction details. Business clients have access to similar functionality through the Mbusiness application, where they can open dirham accounts and execute interbank currency transfers.

Chairman Bektur Aliyev emphasized the bank's commitment to client-centered services, noting that this development is part of a broader strategy to expand their international banking network and meet evolving customer needs. The new correspondent accounts represent a significant step in MBANK Kyrgyzstan's efforts to provide more comprehensive and accessible financial services.