ABN AMRO hosts Euro Clearing Road Show in the Middle East & North Africa

"As a leading European bank with an extensive global network, ABN AMRO is well positioned to support clients in this region," said Jan Willem van den Bosch, Country Representative for the Middle East at ABN AMRO.

"By standardising our systems and processes across the Euro zone and creating a European Payments Centre, ABN AMRO has been able to provide a range of innovative solutions that combine local and pan-European benefits."

ABN AMRO has introduced a range of clearing solutions, including the Single Euro Bank Account (SEBA) service which, with connections to most domestic clearing systems in almost all EU countries, means that ABN AMRO can offer cost-efficient solutions to meet a wide range of payments requirements. ABN AMRO has also launched a flexible pricing and rebating capability, which will help clients to enhance their fee income from Euro payments.

"The unified Euro payments area poses new challenges, such as the introduction of international bank account numbers (IBAN), which many European banks now insist upon even for clients outside the Euro zone," explained Carl Stocking, Regional Head of Financial Institutions, EMEA for ABN AMRO's Commercial Banking business.

"However, by using the latest technology and leveraging ABN AMRO's network, financial institutions can use this as an opportunity for growth and consolidation."

In recognition of the importance of Straight Through Processing (STP) for ensuring back-office efficiency, ABN AMRO has announced an annual award, which will be given to institutions with the highest Euro STP payment volumes. The bank will announce the regional winners of the award at each event.

Jan Willem van den Bosch added: "We place great emphasis on helping clients to improve operational efficiencies and manage costs. Straight Through Processing is a key part of this, and we are pleased to recognise the institutions that have done most in the region to implement these techniques."

ABN AMRO's Commercial Banking business integrates relationship management, lending, treasury products and transaction banking services for corporate and financial institution clients in 46 countries world-wide. It is structured to respond to clients' needs to manage risk and efficiency globally and in their local markets.