Sharjah: Sharjah Islamic Bank (SIB) has been awarded the 'Client Excellence Award' by Deutsche Bank for its performance in straight-through processing (STP) of payment transactions.
According to Emirates News Agency, the bank achieved a 99% success rate in euro transfers and 98% in US dollar transfers for 2024. This reflects a high level of accuracy, efficiency, and reliability in processing corporate and institutional payments without manual intervention. The award was presented to Ahmed Saad, Deputy CEO of Sharjah Islamic Bank, during a visit by a delegation from Deutsche Bank to SIB's headquarters. The meeting was attended by Saeed Al Ameri, Head of Investment, Treasury, and Financial Institutions, along with several officials from both sides.
During the visit, the Deutsche Bank delegation engaged in discussions with SIB's executive management and key teams involved in payments and settlements. The discussions focused on enhancing cooperation in straight-through processing and international payment operations, aligning with global best practices.
Ahmed Saad stated that the achievement highlights Sharjah Islamic Bank's strategy to strengthen its technological infrastructure and improve its payments ecosystem. By adopting world-class standards in straight-through processing, SIB continues to position itself as a trusted financial partner both locally and regionally.
He added that the bank remains committed to enhancing service quality and advancing technological capabilities to ensure a smoother and more secure banking experience for customers. This achievement underscores the bank's role in supporting national economic growth and providing innovative financial solutions aligned with global standards.
The Deutsche Bank 'Client Excellence Award' is regarded as a prestigious recognition in international banking. It is awarded to financial institutions that maintain exceptional compliance standards, accuracy in processing cross-border payments, and the ability to minimize operational errors, thereby contributing to faster execution and increased confidence among clients and partners globally.