MasterCard International announced that the company will continue its expansion plan in the Middle East and North Africa (MENA) region with the opening of new offices in the Kingdom of Saudi Arabia and in Egypt. This is the first phase of a regional expansion plan that could include the opening of further offices in the future.
Last year, MasterCard International moved their regional headquarters from Brussels to Dubai Internet City (DIC) to facilitate long-term plans for expansion within the region, according to a company press release.
“The opening clearly signifies the importance of the region and in particular the respective markets within our global strategy. Both the Kingdom of Saudi Arabia and Egypt are high growth markets, which are of great importance to our business,” said Mohamed Belarj, senior vice president and general manager, MasterCard International, MENA.
“We believe there is a strong potential growth for our business in these countries and the size of the market justifies the company opening local offices there. MasterCard International staff will be able to directly support member financial institutions within their market,” Belarj added.
MasterCard is an internationally accepted payment brand. More than 1.7 billion MasterCard, Cirrus and Maestro logos are present on credit, charge and debit cards in circulation today. An association comprised of more than 15,000 member financial institutions, MasterCard serves consumers and businesses, both large and small, in 210 countries and territories, with more than 24 million acceptance locations. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
