Abu Dhabi, XX November 2014: Abu Dhabi Islamic Bank (ADIB), a top-tier Islamic financial services group, has been named the winner of the prestigious Citibank and Commerzbank's Straight Through Processing (STP) Excellence Award for achieving a payments rate of 98.70%.

The Award recognizes the most efficient financial institutions worldwide which meet rigorous criteria for correspondent banking and international electronic payment transfers set by Citibank and Commerzbank.

Commenting on the award, Sagheer Mufti, General Manager, Global O&T Head, Operation and Technology of ADIB, said: "This award underlines the bank's outstanding performance in the execution of commercial and financial payments. Our priority is to ensure our business is operationally efficient, and this is a testament to that. Straight Through Processing is critical to customer service, as it ensures fast, accurate and reliable execution of payment instructions for our customers.  Our continued investment in technology and people as part of our ethos of being a customer-focused bank has enabled us to provide our individual and institutional customers with payments services that are second to none."

ADIB is among the fastest growing Islamic banks in the region which has so far won 23 industry awards this year including the Best Islamic bank in the world by IFN Magazine, Best Islamic Bank in the UAE by Global Finance Magazine and Best Islamic Bank in the Middle East by The Banker Magazine.

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