AUB receives J.P. Morgan Elite Recognition Award 2012

This is the eighth consecutive year AUB has won this award in its prestigious Elite class from this leading global financial institution.

Since 1997, JP Morgan Chase has been giving this award to acknowledge the consistent, high-quality performance of clients' payments processing.

This year, less than 1% of their funds transfer clients qualified for the Quality Recognition Award.

The Quality Recognition Awards from JP Morgan Chase are divided into two groups, each designated by a SWIFT message type 'MT'. Within each group, there is an elite award category given to recognise the ultimate level of performance.

AUB qualified for the Elite title for both categories of payments, having achieved straight through processing 'STP' rate of 99.7% for SWIFT message type MT103 and 99.89% for SWIFT message type MT202. This achievement is, regionally and internationally, among the highest rates in the industry.

Officials of JP Morgan Chase Bank formally presented the award to Shafqat Anwar, Deputy Group CEO, Operations and Technology of AUB, at a special ceremony held at AUB's headquarters in Seef.

Ali Moosa, Managing Director - Head of Middle East and Africa Region at JP Morgan Chase, said, "We are proud to recognise AUB's achievement in continuing to exceed our stringent STP performance standards and qualifying for the Elite Quality Recognition Award for the eighth consecutive year in both payment categories. This award is a tribute to AUB's longstanding commitment to quality in its operations."

Commenting on this award, Shafqat Anwar of AUB said, "It is gratifying to once again receive this prestigious award, which highlights the Bank's consistently superior efficiency in its customer funds transfer, treasury and Trade Finance payments. This award is a testament to the success of our team in delivering on our commitment to achieve excellence and provide the most efficient and reliable services to our valued clients and counterparties at all times."