Abu Dhabi, United Arab Emirates, October 2026: Al Masraf and Innovo Group have marked a major milestone in their strategic banking relationship by announcing a project financing agreement.
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 financing will support Innovo Group in delivering a significant project, further strengthening the partnership between the two organizations.
The agreement represents one of the largest project financing facilities Al Masraf has extended to a corporate client, highlighting the Bank’s growing capability to provide tailored financing solutions for complex, strategically significant projects.
The media ceremony, held 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 and highlight the organizations’ collaboration.
Commenting on the occasion, Fuad Mohamed, Chief Executive Officer of Al Masraf, 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 organizations across the country.”
He continued: “Our collaboration with Innovo Group demonstrates the strength of our corporate banking capabilities and our ability to provide tailored financing solutions that support projects of strategic importance. We are proud to play a role in enabling the delivery of major developments and look forward to strengthening our partnership with Innovo Group as we continue to support its growth and ambitions.”
Bishoy Azmy, CEO, Innovo Group, 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. We look forward to building on the strong foundations of our relationship in the period ahead.”
The collaboration builds on the established relationship between Al Masraf and Innovo Group, with the Group having been a client of the Bank since 2025. The partnership reflects the trust placed in Al Masraf as a banking partner capable of supporting the financing requirements of major corporate projects.
Through its Corporate Banking business, Al Masraf continues to strengthen its role as a trusted financial partner to businesses contributing to the UAE’s economic development, providing tailored solutions designed around the needs and ambitions of its corporate clients.
The project financing agreement underscores Al Masraf’s commitment to Empowering Future Legacies by supporting businesses and projects that contribute to the UAE’s continued growth and long-term prosperity.
About Al Masraf:
Founded in 1976, under Federal Decree No. 50, signed by His Highness Sheikh Zayed Bin Sultan Al Nahyan, Al Masraf (Arab Bank for Investment & Foreign Trade) is a trusted UAE financial institution with a distinguished legacy of supporting trade, investment and economic development. Built on long-standing relationships, deep market expertise and a commitment to personalized service, the Bank serves corporations, businesses, individuals and families through tailored financial solutions designed to meet their evolving needs.
Guided by its promise of “Empowering Future Legacies,” Al Masraf is advancing a new phase of growth focused on deepening client relationships, enhancing banking experiences and delivering future-ready financial solutions. As a progressive, connected and trusted financial partner, the Bank combines proven expertise with responsible innovation to create lasting value for clients, support sustainable prosperity and contribute to the UAE’s long-term economic ambitions.
The Bank delivers integrated banking solutions through its Wholesale Banking and Retail Banking franchises, combining sector expertise, relationship-led Corporate and Financial Institutions coverage, transaction banking, financing, capital solutions and risk management capabilities to support clients’ growth ambitions and contribute to the UAE’s economic development.
About Innovo:
Innovo is an industry leader in construction and development across the built environment, specialising in the design, engineering, construction, development and infrastructure financing of major real estate projects across four continents.
A front-runner and innovator in the built environment, Innovo’s vast and varied portfolio includes more than 130 ongoing projects, encompassing luxury residential developments, villa communities, educational facilities, hospitality, commercial and transport hubs, and critical urban infrastructure.
Innovo is headquartered in London, UK with offices in Dubai, Abu Dhabi, Toronto, Cairo and Luanda. For more information, visit www.innovogroup.com.
Picture Captions for image 1 and image 2:
Image 1: (L-R) Moataz Khalil, Chief Wholesale Banking Officer, Al Masraf; Fuad Mohamed, Chief Executive Officer, Al Masraf; Abdulaziz Binshafar, Member of the Board of Directors, Innovo Group; and Bishoy Azmy, Chief Executive Officer, Innovo Group, at the ceremony marking the project financing agreement.
Image 2: Fuad Mohamed, Chief Executive Officer of Al Masraf, Bishoy Azmy, Chief Executive Officer of Innovo Group, and Moataz Khalil, Chief Wholesale Banking Officer of Al Masraf, with senior executives from both organisations at Innovo Group’s head office in Dubai.
