The Arab Bank for Investment and Foreign Trade (Al Masraf) has formed a strategic alliance with Lexzur, a renowned provider of legal technology solutions, specializing in AI-driven tools for comprehensive legal practice management.
This partnership underscores Al Masraf’s dedication to innovation and efficiency by automating legal processes via Lexzur’s cutting-edge platform, an enhancement of the “App4Legal” digital legal system. This AI-powered solution offers a seamless, fully digital legal experience with precise, real-time insights driven by artificial intelligence.
Fuad Mohamed, CEO of Al Masraf, remarked on the collaboration: “We are in an AI-driven era reshaping business operations. Partnering with Lexzur aligns with our strategy to boost efficiency across all sectors. We are committed to utilizing AI tools effectively, fostering a dynamic, sustainable work culture that aligns with our long-term goals. This initiative also aligns with the UAE leadership’s vision to lead in AI innovation and solidify the nation’s status as a global hub for advanced technologies.”
Razi Heyasat, Al Masraf’s general legal counsel and board secretary, stated: “Al Masraf is among the first UAE banks to integrate AI into legal operations, showcasing our commitment to digital transformation. By implementing Lexa, Lexzur’s AI legal assistant, we aim to enhance workflow efficiency, compliance, and transparency in our legal practice.”
Feras El Hajjar, CEO of Lexzur, emphasized the partnership’s significance: “Al Masraf’s adoption of Lexa marks a pivotal point in how forward-thinking enterprises utilize AI to improve efficiency, enable informed decision-making, and achieve sustainable growth over the long term. Their vision transcends automation, with AI being central to creating a sustainable future. We are proud to support Al Masraf in unlocking these capabilities through Lexa and anticipate their seamless integration of this advanced technology to realize tangible business results.”
This collaboration aligns with the UAE’s Artificial Intelligence and Digital Economy Strategy, which aims to incorporate AI across all sectors and bolster the nation’s leadership in AI globally. Through public-private collaboration, Al Masraf continues to support the UAE’s journey towards a more innovative and sustainable future.
