Douglas Beckett, Head of Retail Banking, Mashreq
Mashreq Assist, the unique debt counselling service has managed to offer advice and assistance to over 7,000 customers in 2010 seeking financial guidance. This highlights the importance of Mashreq’s debt counselling facility encouraging its principal to borrow wisely.
Set-up in September 2009 this service has been increasing utilised by customers in financial stress with almost 900 customers walking in monthly into Mashreq Assist to discuss their financial situation with a trained debt counsellor.
“We are increasingly seeing customers proactively looking at reviewing their finances carefully and are glad that so many of our customers chose to come to Mashreq Assist,” said Douglas Beckett, Head of Retail Banking, Mashreq. “Mashreq Assist was established to help individuals and SME clients facing repayment challenges and we urge all our customers to make the most out of this service.”
Douglas added, “We have expanded our team of debt counsellors to accommodate the increase in customer requirements. We receive various queries on daily basis and the team is well equipped to swiftly handle all requests and offer assistance. As we head into a period of market stability and recovery, we hope that we are able to minimise loan defaults, which is a positive step for both us and our customers.”
Mashreq Assist, the first of its kind service in the UAE offers tailor-made financial solutions to help individuals and SME clients with their payments. For personal and auto loan customers, Mashreq Assist provides tailor-made solutions on a case by case basis; with options that include extension of the loan tenure to reduce the customers’ monthly instalment.
To support the increase in demand for this service, Mashreq Assist moved into bigger premises last year, located in Mashreq’s Khor Dubai branch, 2nd Floor. It also expanded to Abu Dhabi in June 2010, and is located within Al Mushrif branch on Shk Rashid Bin Saeed Al Maktoum Street.
Douglas concluded, “Mashreq stands by its commitment to be more accessible and offer convenient banking solutions to all customers. We have had positive feedback from all that they are happy to use this service and we encourage others to come and talk to us whenever they are in a challenging financial position.”