Processing US Dollar Outward Payments

Given the global regulatory environment, Mashreqbank PSC (“Mashreq”/ “Bank”) is required to review its policies to meet international banking standards. The purpose is to safeguard the interest of its clients and the Bank.


Going forward, all USD outward payment instruction(s) received from Entity clients would require supporting documents/ information before processing the fund transfer request. Supporting documents / information will be required at the time of initiating the funds transfer request.


The additional information is required from all Entity clients. Information requested has been categorized based on the type of payment.




Details below:

Type of Payment Supporting document/information required
Service Payment
  • Type of Service Rendered
  • Country where the service is provided
  • Optional :
    • End user details – Name, Date of Birth and Nationality
    • Any additional documents that would support the Fund Transfer Application
Trade Payments
  • Port of Loading
  • Port of Discharge
  • Cargo/Vessel Name
  • Airway/IMO Number
  • Commercial Invoice / Performa Invoice Copies
  • Transport Document Copy [e.g. Bill of Lading; Airway Bill; Road Transport]
  • Optional:
    • End user – Name, Date of Birth and Nationality
    • Any additional documents that would support the Fund Transfer Application
Trade Advance Payments
  • Commercial Invoice / Performa Invoice Copies
  • Type of Goods: Detail of the merchandise being traded
  • Origin of Goods: Country name is required
  • Port of Loading
  • Port of Discharge or Destination
  • Optional:
    • Cargo/Vessel Name
    • Airway/IMO Number
    • End user – Name, Date of Birth and Nationality


IMPORTANT: Failure to provide the required documents / information may result in cancellation of Client’s instruction(s). The Bank will not be liable in any event whatsoever for any exchange loss as a result of declining any transactions.


The Bank may also require further documents / information subsequently in order to meet its regulatory obligation and satisfy beneficiary / correspondent bank’s requirements. In such circumstances, the Bank requests prompt response and complete cooperation from the Client in providing the details.


For any queries, please contact us on 800-Private (7748283)



FAQ – EDD US DOLLAR OUTWARD PAYMENTS



What is the purpose of this change in Fund transfer process?

The purpose is to safeguard clients interest by ensuring compliance to regulatory requirements and international banking standards. The Bank aims to be the cornerstone to safe and transparent processing of payments for all its Clients.


What all transactions are impacted due to the change?

Applies to Outward Payments of US Dollar.


What clients will be impacted?

Applicable for all Entity clients.


What happens if payment is are recurring in nature? Will document / information be required on every transfer request?

Supporting documents will be requested for every transaction.


What is meant by supporting information?

Additional information is defined as per the payment type. This has been categorized into 3 groups:


  • Service Payments:
    • Type of service rendered
    • Country of Service: Location where the service is rendered.
  • Trade Payments:
    • Commercial Invoice/Performa Invoice
    • Transport Document Copy [e.g. Bill of Lading; Airway Bill; Road Transport]
  • Trade Advance Payments
    • Commercial Invoice/Performa Invoice
    • Type of Goods: Specify details of the merchandise being traded
    • Origin of Goods: Please provide the country name
    • Port of Loading:
    • Port of Discharge / Destination

What happens if supporting document / information is not available?

If required or satisfactory documents are not available then the transaction may be declined. If declined, clients will receive notifications of the decline through Email, SMS and or call on registered contact details.


What happens once a client’s transaction is declined?

Clients will need to re-initiate the transaction through the Relationship Manager