Ahli United Bank gets J.P. Morgan Elite Quality Recognition Award

TDT | Manama

The Daily Tribune - www.newsofbahrain.com

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Ahli United Bank recently received the J.P Morgan Elite Quality Recognition Award, recognizing the Bank for its unparalleled performance and demonstrated success in achieving the utmost level of optimized efficiency in USD payments.

The award was presented to Ahli United Bank by Mr. Nawaf Humood, Head of Payments - Bahrain.

With stringent Straight Through Processing (STP) performance standards, designated by a SWIFT message type featuring two award tiers, Quality Recognition and Elite Quality Recognition, which acknowledge institutions with a proven track record of exceptional performance and efficiency optimization.

Less than 1% of its total correspondent banking clients qualified for the Quality Recognition Award in 2023.

Following an outstanding year, Ahli United Bank received this accolade from J.P. Morgan in acknowledgement of the Bank’s success in receiving an exceptional STP rate, achieving a rate of 99.87%% for the MT103 message type and 99.99% for the MT202 message type respectively.

This milestone achievement further solidifies the Bank’s standing as a growing financial institution and solid industry player on both local and regional levels.

Commenting on the occasion, Mr. Samih Abutaleb, Deputy Group Chief Executive Officer – Technology & Operations at Ahli United Bank – Bahrain said: “It gives us great pleasure to receive such a prestigious award which reflects on our exceptional work of clients’ STP money transfers.

At Ahli United Bank, we aim to continue providing our valued stakeholders with the best quality of banking services, in addition to our commitment to strengthening our collaboration with all our partners.”