"Sharjah Islamic" He wins an award "Quality appreciation" 2025 from a bank "JP Morgan"
Sharjah, November 16 / WAM / Sharjah Islamic Bank announced that it has won the “Quality Recognition Award” for the year 2025 granted by JP Morgan, one of the largest and most prestigious financial and investment institutions in the world, for achieving an exceptional direct processing rate (STP) of 99.77% in money transfers via the MT103 category.
This achievement reflects the advanced level of the bank’s payments system and its ability to implement financial operations with reliability, speed and high efficiency in accordance with the best international standards.
The award was received by Ahmed Saad, Executive Vice President of Sharjah Islamic Bank, during a visit by a delegation from JPMorgan to the bank’s headquarters and met with the bank’s executive management and a number of leaders concerned with payments and settlement operations.
The JPMorgan delegation included Christopher Davey, Executive Director and Head of Global Settlement Products for EMEA, Gurpreet Saluja, Executive Director of Financial Institutions Sales, Elena Deva, Vice President and Head of Global Settlement Products, and Sachin Jadhav, Client Services Account Manager.
The meeting discussed developments in the global payments sector and mechanisms for developing cross-border payment solutions, in addition to reviewing opportunities to enhance cooperation between the two sides to serve the future directions of both parties.
Ahmed Saad said: The bank’s receipt of this global award represents an affirmation of the strength of our technological infrastructure, the efficiency of the teams specialized in managing payment operations, and our continued ability to achieve high-level operational performance comparable to the best banking institutions in the world, noting that reaching the direct processing rate of 99.77% reflects our commitment to providing fast, safe and reliable services that improve customer experience and enable them to conduct their transactions with complete confidence.
He added: We are proud of our extended partnership with JP Morgan Bank and seek to enhance cooperation in the fields of global payments and settlement in a way that supports the bank’s plans to develop innovative banking services that contribute to supporting the national economy and enhancing the UAE’s position as a leading financial center.
It is noteworthy that JP Morgan Bank has been granting this award since 1997 to honor financial institutions that achieve the highest rates of accuracy and efficiency in implementing financial transfer operations, which places Sharjah Islamic Bank among the elite of international banks that enjoy high-quality operational performance at the level of international payments.
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