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Al Masraf and the Sharjah Chamber of Commerce and Industry signed a memorandum of understanding, according to a statement issued by the two organizations on November 4, 2026. The signing ceremony took place at Al Barajeel at the Sharjah Chamber of Commerce and Industry. His Excellency Abdalla Sultan Al Owais, Chairman of the Sharjah Chamber of Commerce and Industry, and His Excellency Mohamed Ahmed Amin, Director General of the Sharjah Chamber of Commerce and Industry, attended the event. Fuad Mohamed, Chief Executive Officer at Al Masraf, and Ahmad Yousuf, Chief Retail Banking Officer at Al Masraf, represented the bank during the proceedings.
The memorandum establishes a framework for cooperation that links the bank’s financial solutions to the chamber’s work with the business community in Sharjah. The organizations plan to strengthen engagement with businesses. The statement from Al Masraf and the Sharjah Chamber of Commerce and Industry said the parties will facilitate knowledge exchange and identify mutual interests that contribute to a connected business environment.
The Sharjah Chamber of Commerce and Industry held discussions with a delegation from the Qatar Chamber in October 2025. UrduPoint reported that the meeting addressed ways to enhance economic cooperation and private sector growth. Figures cited during those talks placed non-oil foreign trade between the two countries at approximately AED 37 billion in 2023 after an 18.3 percent increase from the prior year.
Al Masraf provides retail and corporate banking services that support trade finance and business expansion. The new agreement with the Sharjah Chamber of Commerce and Industry will operate within that domain. The statement did not outline specific projects or implementation timelines for the memorandum.
The Sharjah Chamber of Commerce and Industry operates multiple sectoral business groups. A statement from the chamber in May 2025 indicated plans to expand those groups to cover additional economic activities. The chamber has pursued similar partnerships to promote investment and trade links in the region.
