Wednesday, May 12, 2021

Dubai’s 3rd biggest bank may move half jobs to cheaper hubs like India: Report

Dubai’s third-biggest lender Mashreqbank PSC will be shifting nearly half of its jobs to cheaper locations including India, Egypt or Pakistan, a Bloomberg report said. Mashreq will also eliminate a significant number of existing roles and create new positions. Mashreq is the oldest privately owned bank in the United Arab Emirates and employed almost 5,000 people as of September 2019.

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