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Sep '16

Sharjah Islamic Bank wins Wells Fargo Straight-Through Processing Award


Sharjah Islamic Bank wins Wells Fargo “Straight-Through Processing Award”

Accolade recognises “thoughtful and organised commercial payment volumes and quick and seamless transactions”


Multi-award winning Sharjah Islamic Bank (SIB) has received yet another accolade to add to its list of achievements, having been recognised with a Wells Fargo Straight-Through Processing Award – for “consistently demonstrating thoughtful and organised commercial payment volumes and quick and seamless transactions”.


SIB came first in the category: “Global Financial Institutions Payment Services”. The award was presented at SIB’s head office, on 6th September, and accepted by the bank’s Deputy CEO, Ahmad Saad.


Wells Fargo is a renowned international provider of banking, mortgage, investing, credit card, insurance, and consumer and commercial financial services, headquartered out of San Francisco, California.

Accepting the award, Saad said: “The world of financial transactions and processing continues to become more and more complex and the challenges faced, in relation to compliance, regulation, liquidity and changing technologies, means banks have to balance quick and seamless customer service with increasing pressures on that performance.”


“Sharjah Islamic Bank is, therefore, delighted to have been recognised by such an esteemed international banking institution as Wells Fargo, for meeting the needs of both our customers and our international partners,” Saad added.

George M. Doolittle, EVP Head of GFI Payment Services, at Wells Fargo, said: “SIB is particularly dedicated to ensuring that our partnership is based on a commitment to straight-through processing. This effort is highly recognised within Wells Fargo and we wanted to present SIB with an award that recognises its commitment, experience and expertise in this area.”

Earlier this year, SIB was also recognised as the Best Islamic Bank in the UAE 2016, at the World Finance Awards.

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