Blue Nile Mashreg Bank

What Blue Nile Mashreg Bank does

Blue Nile Mashreg Bank (BNMB) is a Shariah-compliant commercial bank headquartered in Khartoum, Sudan, founded in 1983 and operating as one of the largest listed banks in the country under the regulation of the Central Bank of Sudan and AAOIFI Shari'a Standards. The bank serves large corporate institutions (including international oil companies, UN agencies, and diplomatic missions), SMEs, retail individuals, humanitarian organizations, and government entities through 22+ branches and sub-branches, an ATM and POS network, Internet Banking, the Mashreg mobile application, and dedicated corporate relationship managers.

BNMB's core technology platform centers on the Mashreg App — Sudan's first fully digital account opening channel, integrated with the national Civil Registry for biometric KYC and enabling account creation in under five minutes — supplemented by Internet Banking for corporate clients, an ATM/POS network, HPay (Host-to-Host ERP-to-bank transaction processing), and SHAFRA, a biometric smart card designed for offline humanitarian aid distribution. The product portfolio spans current, savings, and digital accounts; a VISA Platinum card; Islamic finance instruments (Mudaraba, Musharaka, Murabaha, Salam, Ijarra, Istisna, Qard Hasan, Bai' Muajjal); treasury and correspondent banking services; trade finance; cash management; and remittance distribution via Western Union and RIA partnerships.

The business model is a diversified Islamic bank revenue mix: net interest/profit margins on Shariah-compliant financing facilities, transaction fees on retail and card operations, FX spreads on treasury and remittance flows, government revenue collection via the ESALI partnership, brokerage commissions through the Nile and Mashreg Financial Services Company subsidiary (a Class A Khartoum Stock Exchange broker), and investment-advisory fees through the Nile and Mashreg Investment Company subsidiary targeting export-oriented businesses. Distribution is multi-channel and predominantly domestic, combining physical branches, self-service digital channels, a call center (6688), and global remittance partnerships.

Name

Blue Nile Mashreg Bank

Legal name

Blue Nile Mashreg Bank

Website

https://bluemashreg.com

Company type

Private

Founded year

1983

Operating status

Operating

Headcount range

11–50 employees

Short description

Blue Nile Mashreg Bank is a Shariah-compliant Sudanese commercial bank founded in 1983, serving large corporates, SMEs, retail customers, humanitarian organizations, and government entities through 22+ branches, digital channels, and Islamic finance products across Sudan.

Ownership category

akta.pro rank

Product category

Islamic Commercial Banking

NAICS

Commercial Banking (52211)

SIC

National Commercial Banks (6021)

akta.pro primary industry

Islamic SME & Commercial Banking (FSABAGAB)

akta.pro secondary industries

Islamic Corporate Banking (FSABAGAC), Shariah-compliant Financing Products (Murabaha, Ijara, Tawarruq, Istisna, Salam) (FSABAGAH), Islamic Transaction Banking (Cash Management & Treasury Services) (FSABAGAF)

Keywords

• Islamic banking services
• Corporate banking
• Retail banking
• Remittance services
• Digital banking

Headquarters

HQ city

Khartoum

HQ country

Sudan

HQ region

Africa

Offices23 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Corporate Banking Services: BNMB provides corporate banking services to large corporate institutions, international oil companies, NGOs, diplomatic missions, and UN agencies. Revenue is generated through corporate accounts, trade finance products, cash management services, and credit facilities structured according to Islamic finance principles (Mudaraba, Musharaka, Murabaha, etc.).
2. Islamic Finance Products: The bank offers Shariah-compliant financial products including Mudaraba, LC Against Mudaraba, Musharaka, Qard Hasan, Istisna/Mugawala, Salam, Ijarra, Murabaha, and Bai' Muajjal. Revenue is generated through profit margins and fees on these Islamic financing structures.
3. Remittance Services: BNMB partners with Western Union and RIA to provide international money transfer services to Sudan. Revenue is generated through transaction fees and exchange rate margins on remittance services.
4. Digital Banking Services: Digital banking services including Internet Banking, ATM transactions, POS transactions, and Mashreg App. Revenue is generated through transaction fees, card issuance fees, and annual maintenance fees on cards.
5. Subsidiary Financial Services: Nile and Mashreg Financial Services Company (Class A broker in Khartoum Stock Exchange) and Nile and Mashreg Investment Company provide brokerage and investment management services, generating fees from trade execution, portfolio management, and investment advisory.
6. Treasury and FI Banking: Foreign exchange services, currency risk management, and correspondent banking relationships generating revenue through FX spreads and commissions.

Pricing tiers

Go-to-market motion3 records

Distribution channels8 records

Marketing channels7 records

Core offering

Blue Nile Mashreg Bank provides Shariah-compliant (AAOIFI) banking services in Sudan through personal banking (current, savings, and digital accounts with VISA Platinum cards), corporate banking (corporate accounts, Islamic trade and working-capital finance, treasury and correspondent banking, cash management), digital channels (Mashreg mobile app, Internet Banking, ATM and POS networks), remittance services via Western Union and RIA partnerships, and the SHAFRA biometric smart card for humanitarian aid distribution. The bank serves retail consumers, SMEs, large corporates, oil companies, NGOs, diplomatic missions, and UN agencies via a network of 22+ branches and digital platforms.

Product overview

Blue Nile Mashreg Bank (BNMB) offers a comprehensive Islamic banking product portfolio built around its digital-first strategy. The core offering consists of the Mashreg App (mobile banking platform) and Internet Banking (corporate online banking), supported by an extensive ATM and POS network. Personal banking services include Current, Savings, and Digital Accounts paired with VISA Platinum cards. Corporate banking encompasses tailored corporate accounts, Islamic financial products (Mudaraba, Murabaha, Salam, etc.), treasury services, and HPay (Host-to-Host ERP integration). Remittance services are delivered through Western Union and RIA partnerships. The bank also operates SHAFRA, a biometric smart card for humanitarian aid. Two subsidiaries—Nile and Mashreg Financial Services (brokerage) and Nile and Mashreg Investment Company—extend the financial services ecosystem.

Differentiator

Problem solved

Functional benefit

Brands

• Nile and Mashreg Financial Services Company: Class A financial brokerage firm in the Khartoum Stock Exchange providing personalized investment services, trade execution, and portfolio management.
• Nile and Mashreg Investment Company
• SHAFRA
• HPay

Products and services

• Current Account Personal and business current account with online/mobile banking access, ATM and branch network access, debit card facilities, and cheque book services for retail and business customers in Sudan.
• Savings Account Savings account with flexible deposit and withdrawal options, online and mobile banking, and ATM card access for convenient fund management for retail customers.
• Digital Account (Mashreg Digital) Fully digital bank account opened via the Mashreg App using national ID or passport with biometric verification; Sudan's first of its kind, enabling registration from anywhere globally without a branch visit.
• VISA Platinum Card International credit card with global acceptance, secure transactions, and exclusive privileges; issuance fee $35, annual maintenance fee $35, daily purchase limit $5,000, weekly purchase limit $25,000, and daily ATM withdrawal limit $300.
• Corporate Accounts Tailored corporate account structures with dedicated relationship managers, online banking, cash management tools, competitive rates, and customized Shariah-compliant credit facilities for businesses and institutions.
• Islamic Financial Services Shariah-compliant financial products including Mudaraba, LC Against Mudaraba, Musharaka, Qard Hasan, Istisna/Mugawala, Salam, Ijarra, Murabaha, and Bai' Muajjal for working capital and trade financing.
• Treasury & FI Banking Treasury services for corporate treasuries including cash management, trade finance, currency risk management, and access to correspondent banking relationships globally (SWIFT: BLNISDKH).
• Cash Management & Collection Services Corporate cash and cheque pickup, sub-branch services, direct debit, quick collect (PDC custody), and express payments for salaries, rents, and pensions.
• HPay (Host-to-Host) Corporate Host-to-Host (H2H) transaction processing solution connecting client ERP systems with BNMB servers for automated domestic and international payment and collection processes with end-to-end encryption.
• SHAFRA Biometric Smart Card Biometric-powered smart card solution for humanitarian aid distribution that operates both online and offline without smartphones or internet access; designed for last-mile delivery in remote and infrastructure-limited communities.
• Western Union Remittance Service International money transfer service enabling individuals in Sudan to receive funds from anywhere worldwide within minutes through Western Union's global agent network of 310,000+ agents across 200+ countries and territories.
• RIA Remittance Service Person-to-person international money transfer service allowing individuals in Sudan to receive money globally through RIA's extensive agent network connected by computer systems.
• Internet Banking (Corporate Online Banking) Corporate online banking platform providing real-time account access, payment initiation and authorization, payroll processing, multi-user management with different authorization levels, downloadable statements, and secure encryption.
• Mashreg App Mobile banking application offering account management, fund transfers, bill payments, and digital account opening with biometric authentication; the first app in Sudan to enable fully digital account opening by linking with the Civil Registry. Available on iOS and Android.
• ATM Network Automated teller machine network offering cash withdrawal, deposits, fund transfers, bill payments (SEDC, E-15, mobile top-up), balance inquiries, mini-statements, and PIN changes; supports cardless transactions.
• POS (Point of Sale) Network Point of sale terminal network accepting BNMB ATM cards at supermarkets, restaurants, hotels, and healthcare facilities for secure card payments across Sudan.
• Nile and Mashreg Financial Services Company (Subsidiary Brokerage) Wholly-owned subsidiary operating as a Class A broker in the Khartoum Stock Exchange, providing personalized investment services including trade execution, investment advisory, and portfolio management.
• Nile and Mashreg Investment Company (Subsidiary) Wholly-owned subsidiary dedicated to empowering export-oriented businesses in the global market by providing expertise, resources, financial assistance, and strategic guidance for regulatory navigation and growth acceleration.
• BEDAYA Electronic Forms Online platform for electronic account opening forms including Personal Account, Company Account, Business Account, Organization Account, and Government Account forms.

Quantifiable outcome

• Digital account opening in under 5 minutes via Mashreg App
• +3 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability3 records

Feature6 records

Partnerships

Seven partnerships are on record, tiered flagship and core.

• Ministry of Finance and Economic Planning (Sudan)flagshipStrategic or Co-development Partner · 24 July 2025BNMB signed an electronic services agreement with Sudan's Ministry of Finance and Economic Planning on July 24, 2025, as part of the ESALI (Electronic Collection and Payment System). The bank will provide ESALI service to customers through the Mashreg application, supporting government revenue collection and enhancing digital transformation in the financial services sector.
• Western UnioncoreChannel Partner/ Reseller/ DistributorBNMB partners with Western Union, the global money transfer service with over 150 years of operation, more than 310,000 agent locations across over 200 countries and territories. Through this partnership, BNMB enables individuals in Sudan to receive international money transfers quickly and securely through its branch network.
• RIAcoreChannel Partner/ Reseller/ DistributorBNMB partners with RIA, a trusted person-to-person money transfer service, to provide remittance services to Sudan. Through an extensive network of reliable agents connected by computer systems, money transfers are handled safely with no delays.
• Correspondent BankscoreStrategic or Co-development PartnerBNMB has established relationships with a network of reputable correspondent banks worldwide. These partnerships enable seamless cross-border transactions, international payment services, and access to global financial markets. The bank's SWIFT code is BLNISDKH.
• Nile and Mashreg Financial Services CompanycoreOthersA subsidiary of BNMB operating as a Class A broker in the Khartoum Stock Exchange, providing personalized investment services including trade execution, investment advisory, and portfolio management while upholding regulatory standards and ethical practices.
• Nile and Mashreg Investment CompanycoreOthersA subsidiary of BNMB dedicated to empowering export-oriented businesses in the global market by providing expertise, resources, financial assistance, and strategic guidance for regulatory navigation, funding acquisition, and growth acceleration.
• Sudan's Central Bank of Sudan (CBOS)coreOthersBNMB operates under the regulations and guidelines of the Central Bank of Sudan (CBOS) and is subject to AAOIFI Shari'a Standards for Islamic accounts. The bank complies with FATCA requirements and all applicable federal and local laws of Sudan.

Scale indicators5 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• QNB Sudan (Qatar National Bank): QNB Sudan is the Sudanese subsidiary of Qatar National Bank, offering commercial and corporate banking across Sudan. It competes with BNMB for corporate accounts, trade finance, and oil-company/diplomatic-mission relationships, leveraging stronger international correspondent banking ties.
• Bank of Khartoum Group: The Bank of Khartoum Group is the parent of Sudan's flagship commercial bank with brokerage, microfinance, and investment subsidiaries. Comparable to BNMB as a Sudanese financial services conglomerate combining commercial banking, capital markets, and Shariah-compliant offerings across the country.
• Saudi Sudanese Bank: Saudi Sudanese Bank is a Sudanese commercial bank with Saudi investment backing, providing corporate, retail, and trade finance services. It directly competes with BNMB in Sudan for cross-border trade finance, especially involving Gulf-based counterparties.
• Al Baraka Bank Sudan: Al Baraka Bank Sudan is the Sudanese subsidiary of Al Baraka Banking Group (Bahrain), offering Shariah-compliant retail, corporate, and investment banking. It competes head-to-head with BNMB in Islamic trade finance, corporate accounts, and government-related banking mandates in Sudan.
• Faisal Islamic Bank Sudan: Faisal Islamic Bank Sudan is a Shariah-compliant commercial bank operating across Sudan with a similar Islamic finance product lineup (Mudaraba, Murabaha, Musharaka) and comparable retail/corporate focus, making it a direct competitor for Shariah-conscious customers and corporate Islamic finance deals.
• Omdurman National Bank: Omdurman National Bank is a Sudanese commercial bank with a domestic branch network and retail/corporate banking focus. It directly competes with BNMB in Omdurman and other Sudanese cities for deposits, trade finance, and government banking relationships.
• Bank of Khartoum: Bank of Khartoum is one of Sudan's largest commercial banks, directly comparable to BNMB in providing full-service retail, corporate, and Islamic banking across Sudan. The BNMB CEO previously led Bank of Khartoum's Abu Dhabi expansion, underscoring their head-to-head competitive overlap in the Sudanese market.

Broad incumbents

• Abu Dhabi Islamic Bank (ADIB): ADIB is a leading UAE-based Islamic bank offering retail, corporate, and treasury Shariah-compliant products with global operations. It is broadly comparable to BNMB as a larger, well-capitalized regional Islamic banking incumbent whose product architecture (Murabaha, Ijara, Mudaraba) mirrors BNMB's offering.
• Dubai Islamic Bank (DIB): Dubai Islamic Bank is a UAE-headquartered Shariah-compliant bank offering corporate, retail, and treasury services across the Middle East. Comparable to BNMB as an incumbent Islamic banking franchise with strong trade finance and correspondent banking capabilities relevant to cross-border Gulf-Sudan flows.
• Al Rajhi Bank: Al Rajhi Bank is the world's largest Islamic bank by assets, with extensive retail and corporate Shariah-compliant offerings. While serving different geographies, its digital banking leadership and product breadth serve as a reference benchmark for what BNMB's Mashreg App and Islamic product suite could scale into.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

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Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Blue Nile Mashreg Bank