Ahli United Bank (AUB) has been awarded the Elite Quality Recognition Award 2011 by JPMorgan Chase, in recognition of the bank's superior and virtually error-free processing of funds transfers and treasury transactions.

This is the seventh consecutive year AUB has won this award in its prestigious Elite class from this global financial services firm.

Since 1997, JPMorgan Chase has been giving this award to acknowledge the consistent, high-quality performance of clients' funds transfer operations management and staff. This year, less than one per cent of their funds transfer clients qualified for the award.

The 2011 Quality Recognition Awards are divided into two groups, each designated by a SWIFT message type (MT).

Within each group, there are elite awards given to recognise the ultimate level of performance.

With achieved straight through processing rate of 99.6 per cent for SWIFT message type MT103 and 99.7 per cent for SWIFT message type MT202, AUB qualified for the Elite title for both categories of payments, ranking amongst the best performing banks regionally and internationally.

JPMorgan Chase Bank Mena region, managing director Ali Moosa presented the award to AUB deputy group chief executive officer operations and technology Shafqat Anwar at a ceremony held at AUB's headquarters in Seef.

"AUB is amongst a select group of institutions being recognised from thousands around the world, having once again exceeded our stringent STP performance standards," said Moosa.

"We are proud to work with clients like AUB which consistently achieve best-in-class rates and demonstrate such a long-term commitment to quality," he added.

"We are delighted to receive this award from JPMorgan Chase, which acknowledges our focus on meeting and exceeding our customers' expectations for highest performance and service standards," added Anwar.

"This award reflects our philosophy and ongoing teamwork efforts aiming at achieving a culture of excellence and delivering most efficient and reliable banking services to our valued customers at all times." – TradeArabia News Service