Commercial Bank of Dubai has been awarded the JPMorgan Chase 2005 Elite Quality Recognition Award

Mr. Yaqoob Yousuf Hassan, Deputy Chief Executive, Mr. Mahmood Hadi, General Manager - Systems & Operations and Mr. Hassan Al Redha, Manager - International Banking received the award from Mr. Ali Moosa, VP & Treasury Services Area Manager - MENA region and Mr. Ebrahim Mustafa, VP from JP Morgan Chase Bahrain Representative office during a ceremony held at the Bank's Headquarters and attended by officials from both banks.

Mr. Peter Baltussen, Chief Executive of CBD said:

"We are very proud and deeply gratified at being recognized by JP Morgan Chase Bank for this award. This achievement indicates our commitment to quality and enhances our efforts in achieving continuous progress as well as improving the services rendered to our customers both locally and internationally".

He also stressed the fact that the Bank's adoption of quality standards was not aimed at winning an award or a certificate only but at developing its performance so as to guarantee maintaining the reputation and position which the Bank has attained and to provide the best service to our customers.

Mahmood Hadi, General Manager - Systems & Operations said: "We are proud for being recognized from JP Morgan for the excellence of our operations management. Only 1% of JP Morgan's clients received this award for achieving 92% and above of error-free operations. CBD received the elite award for exceeding the stringent criteria for the award, a straight through rate of 99%"

Mr. Ali Moosa expressed his happiness at the Bank's success in winning the award following the successful implementation of all the measures conforming to the award standards.