Ahli United Bank B.S.C. (AUB) has been awarded the prestigious STP Award by Commerzbank AG, in recognition of the Bank’s outstanding efficiency in processing funds transfers and international transactions in Euro.
This is the fourth consecutive year AUB has received this award, which is conferred on select banks worldwide which meet stringent criteria for processing Euro payments through Commerzbank. In respect of 2011, AUB has achieved a straight through processing (STP) rates of 95.6% and 99.8% for MT103 and MT202 transactions respectively.
At a ceremony held at the Bank’s headquarters in Seef, Ralph Nitzgen, Senior Executive Officer & General Manager, Commerzbank AG, formally presented the award to Shafqat Anwar, Deputy Group CEO for Operations and Technology, AUB.
“AUB’s excellence in the processing and delivery of international transactions in Euro was once again much in evidence during the year. We are delighted to work with banks that demonstrate such professionalism and high commitment to acting in the best interest of customers and concerned parties”, said Mr. Nitzgen of Commerzbank AG.
Accepting the award on behalf of AUB, Mr. Shafqat Anwar said: “We are delighted to receive this award for the fourth straight year, a tribute to the high caliber and superior efficiency of AUB’s operational capabilities. With state-of-the-art technology and operational infrastructure, our team of seasoned professionals is well placed to meet the full needs of individual and corporate customers alike. I wish to congratulate all my colleagues in the Operations Division on their hard work and outstanding contribution in earning the trust and confidence of our valued clients and counterparties at all times”.