Sharjah Islamic Bank has announced winning the 'Quality Recognition' award for 2025 from J.P. Morgan. This achievement is attributed to an exceptional Straight-Through Processing (STP) rate of 99.77% for money transfers in the 'MT103' category. This milestone reflects the advanced level of the bank's payment system and its capability to execute financial operations with reliability, speed, and high efficiency in line with global best practices. Ahmed Saad, the bank's Vice President, received the award during a visit by a high-level delegation from J.P. Morgan to the bank's headquarters. The meeting discussed the latest developments in the global payments sector and mechanisms for developing cross-border payment solutions. Ahmed Saad, Vice President of Sharjah Islamic Bank, stated: 'Receiving this global award affirms the strength of our technological infrastructure, the efficiency of our specialized teams in payment processing, and our sustained ability to achieve a high-level operational performance that rivals the world's leading banks.' He also emphasized that achieving a 99.77% STP rate reflects the bank's commitment to providing fast, secure, and reliable services that elevate the customer experience and enable them to conduct transactions with complete confidence. It is worth noting that J.P. Morgan has been granting this award since 1997 to honor financial institutions that achieve the highest levels of accuracy and efficiency in executing money transfers, placing Sharjah Islamic Bank among the elite of global banks with high-quality operational performance in international payments.
