Post by : Mariam
Al-Faris
Sharjah Islamic Bank (SIB) has been honoured with the prestigious Client Excellence Award by Deutsche Bank for its exceptional performance in straight-through processing (STP) of payment transactions. The bank achieved a 99% success rate in euro transfers and 98% in US dollar transfers for 2024, reflecting high accuracy, reliability, and efficiency in processing corporate and institutional payments without manual intervention.
Ahmed Saad, Deputy CEO of SIB, received the award during a visit by a delegation from Deutsche Bank to the bank’s headquarters. Saeed Al Ameri, Head of Investment, Treasury, and Financial Institutions, and several officials from both sides attended the ceremony.
The Deutsche Bank delegation held discussions with SIB’s executive management and payment teams, exploring ways to further strengthen collaboration in international payments and STP operations, following global best practices.
Ahmed Saad stated that this achievement highlights SIB’s commitment to enhancing its technological infrastructure and improving the payments ecosystem. By adopting world-class STP standards, the bank continues to provide a seamless and secure banking experience, reinforcing its position as a trusted partner locally and regionally.
He added, “This recognition reflects our ongoing efforts to improve service quality, advance technology, and support national economic growth by offering innovative financial solutions that meet international standards.”
The Deutsche Bank Client Excellence Award is a highly respected recognition in international banking. It honours financial institutions that demonstrate outstanding compliance, accurate cross-border payments, and operational excellence, helping to boost client confidence and enable faster transaction execution in global markets.
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