Sharjah Islamic Bank receives the “Quality Appreciation Award” from J.P. Morgan

Sharjah Islamic Bank announced that it won the “Quality Appreciation Award” for the year 2025, awarded by JP Morgan Bank, for achieving an exceptional direct processing rate (STP) of 99.77% in money transfers via the “MT103” category, as this achievement reflects the advanced level of the bank’s payments system, and its ability to carry out financial operations with reliability, speed and high efficiency in accordance with the best international standards.

The Executive Vice President of Sharjah Islamic Bank, Ahmed Saad, received the award during a visit by a high-level delegation from J.P. Morgan to the bank’s headquarters. The meeting witnessed a discussion of developments in the global payments sector and mechanisms for developing cross-border payment solutions.

Ahmed Saad, Executive Vice President of Sharjah Islamic Bank, said: “The bank’s receipt of this global award represents an affirmation of the strength of our technological infrastructure, the competence 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.”

He stressed that 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.

It is noteworthy that J.P. Morgan has been granting this award since 1997 to honor financial institutions that achieve the highest rates of accuracy and efficiency in implementing financial transfers, which places Sharjah Islamic Bank among the elite of international banks that enjoy high-quality operational performance at the level of international payments.