Alba successfully implements AUB’s integrated payment

Press release
Published June 7th, 2016 - 08:41 GMT
During the event
During the event

Ahli United Bank (AUB) announced that Aluminium Bahrain B.S.C. (Alba) has successfully implemented the Bank’s Business2Business (B2B) integrated payment system for payroll processing.

The B2B integration platform is developed in-house by AUB to meet the diverse banking business requirements of its corporate customers through end-to-end integration with the ERP, accounting and payroll systems.

Commenting on this successful implementation, Ali Al-Baqali, Chief Financial Officer of Alba, said: “AUB B2B integrated system allows Alba to streamline its payroll processes, achieve operational efficiencies and simplify the reconciliation process. I would like to extend my appreciation to AUB for their strong commitment and continued support in customizing the integration platform to meet the specific needs of Alba”.

Redha Ali, Head, Corporate Banking, AUB, commented, “AUB and Alba enjoy a strong and longstanding partnership.  This successful implementation illustrates our commitment to cater to the full range of Alba’s requirements, from core financial products and services to transaction banking solutions. This B2B platform also allows for seamless integration with the nationally launched Electronic Fund Transfer System (EFTS), which further demonstrates our proactive approach in enabling our clients to benefit from new developments in financial sector in Bahrain”.

Background Information

Ahli United Bank

Ahli United Bank BSC (AUB) is a full fledged commercial and investment banking group providing wealth management, retail, corporate, treasury, offshore and private banking services.

The Group's businesses consist of the operations in Bahrain, a wholly owned subsidiary in the UK and associates in Kuwait, Qatar, Oman, Egypt and Iraq. In Kuwait, AUB has an effective holding of 75% in the Bank of Kuwait and The Middle East while in Qatar, AUB has a 40% stake in Ahli Bank QSC. In Oman, AUB has a 35% stake in Ahli Bank SAOG while in Iraq AUB has a 49% stake in the Commercial Bank of Iraq. In Egypt, AUB, its associate banks and other Gulf financial institutions together hold an 89.3% stake in Ahli United Bank SAE. Apart from these banks, AUB has a nominal stake of 75% in KMEFIC, a brokerage, asset management and corporate finance company based in Kuwait with operations around the Arabian Gulf.

Overall, the AUB Group, through its subsidiaries and associates, operates through a network of 93 branch offices and employs over 3,000 people. 

AUB’s stated mission is to create an unrivalled ability to meet customer needs, provide fulfillment and development for staff and to deliver outstanding shareholder value. AUB’s strategy is to expand through both organic growth and acquisition in order to act as a ‘multifaceted financial bridge’ between the international financial markets and its Gulf clients. It has sought to establish an operating presence in each of the Pan-GCC countries with a targeted 10% - 20% market share. To this end, AUB continues to develop and invest to increase its ability to acquire new businesses and rapidly integrate them with the bank’s systems. This development has helped accelerate progress in the delivery of financial services and penetration into targeted geographical markets.

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