Funding
Al Masraf Signs Major Project Financing Deal With Innovo Group at Dubai Ceremony
By News Desk ·
Key takeaways
- Al Masraf signed a major project financing deal with Innovo Group, one of the largest facilities it has extended to a corporate client.
- Al Masraf CEO Fuad Mohamed and Innovo Group CEO Bishoy Azmy attended the ceremony at Innovo's Dubai head office.
- Al Masraf issued a $500 million five-year bond in January 2026 under a $5 billion EMTN Programme.
Al Masraf (Arab Bank for Investment & Foreign Trade) signed a major project financing deal with Innovo Group, one of the largest project financing facilities the bank has extended to a corporate client, the bank said. EIN Presswire reported the agreement, announced at Innovo Group's head office in Dubai, supports a significant development project.
Al Masraf and Innovo Sign Financing Agreement in Dubai
The agreement reflects Al Masraf's continued commitment to supporting major businesses and projects that contribute to the UAE's economic growth and development, the bank said. The media ceremony at Innovo Group's head office in Dubai brought together Fuad Mohamed, Chief Executive Officer of Al Masraf, and Bishoy Azmy, Chief Executive Officer of Innovo Group, to mark the milestone.
Mohamed said: "This milestone reflects Al Masraf's commitment to supporting the UAE's ambitious infrastructure and development agenda and to building long-term partnerships with leading organisations across the country." He added that the collaboration demonstrates the strength of the bank's corporate banking capabilities and its ability to provide tailored financing solutions for projects of strategic importance.
Azmy said: "Al Masraf has been a valued banking partner to Innovo, and we welcome the opportunity to deepen our engagement. As our business evolves, we see scope to broaden our collaboration and work together on new opportunities."
Innovo Group signed a strategic partnership with Dubai PropTech Hub, a DIFC initiative, in August 2026 to test and scale construction technologies across live UAE projects, covering AI, robotics, digital twins, automation, sustainable materials and new construction methods, Startup Scene reported.
Al Masraf's Bond Issuance and EMTN Programme
According to akta.pro company records, Al Masraf issued its debut $500 million five-year bond at a 5.113% coupon under a $5 billion EMTN Programme in January 2026, listed on Nasdaq Dubai and the London Stock Exchange, achieving 2.6x oversubscription with orders exceeding $1.3 billion. The same records show the bank entered international debt capital markets for the first time during its Golden Jubilee year, establishing the $5 billion EMTN Programme and dual-listing on Nasdaq Dubai and the London Stock Exchange.
| Figure | Detail |
|---|---|
| $500 million | Debut bond issuance |
| $5 billion | EMTN Programme size |
| 2.6x | Oversubscription |
| $1.3 billion | Orders exceeding |
Al Masraf's Recent Corporate Milestones
Al Masraf officially unveiled its new corporate identity at a launch event held at its head office in Abu Dhabi in July 2026, coinciding with the bank's 50th anniversary, LogisticsGulf reported. GulfNews reported that the bank launched a new corporate identity branded "Empowering Future Legacies" during a ceremony at its Abu Dhabi headquarters in June 2026 to mark its 50th anniversary.
Al Masraf's Leadership Appointment
Al Masraf appointed Moataz Khalil as Chief Wholesale Banking Officer in February 2026, recruiting from First Abu Dhabi Bank where he served as Managing Director and Global Head of the Diversified Industrials Group, according to akta.pro company records.