AAIB Receives International Quality Recognition Awards

ArabAfrican International Bank has been awarded with 2011 J.P. Morgan Quality RecognitionAwards, for the third successive year for AAIB commercial payments MT103 exceedingaccuracy level of 90%. Furthermore, AAIB was solely and uniquely qualified thisyear for the JP Morgan Quality Recognition Award for FI treasury payments MT 202exceeding accuracy level of 98%(Fully Automated Straight Through Transfers ).
which recognizes clients that achieved best-in-class straight-through processing(STP) rates.

Since 1997, J.P. Morgan have given this award to acknowledge the consistent, high-qualityperformance of their clients funds transfer operations management and staff. Thisyear, less than 1% of J.P. Morgans total funds transfer clients qualified for aQuality Recognition Award.

AAIB has exceeded stringent STP performance standards and received TWO Quality RecognitionAwards one for MT103 and the other one for MT202

AAIB maintained outstanding STP performance levels for 3 consecutive years for MT103payments and for the first time AAIB receive the MT202 recognition award which clearlydesignates AAIB as an industry leader in achieving operational excellence and commitmentto quality.

AAIB won the JP Morgan Chase 2008 Quality Recognition Award for US$ Clearing forbothCommercial and Financial Institutions Payments in recognition of its outstandinghigh-qualityperformance and commitment to quality in the area of fund transfer.

Delighted with the achievement, Mr. Mohsen Rashad, Head of Financial Institutions&Correspondent Banking, said : 'With a solid track record of award winning productsandservices, AAIB aspires to become one of the leading financial institutions intheregion with a reputation for high level quality. This award is recognition ofourpersistent efforts to create value for all our stakeholders while constantlyachievingsizeable growth and profitability'.

'Winning this prestigious award is testimony of our insistence on high standardsofquality, accuracy alongside with transparency, integrity and strict compliancewithgovernment regulations in everything we do. Whether it is our products, servicesorinternal policies, AAIB always strives to achieve and sustain the highest levelofquality and satisfaction, having met the stringent criteria for the MT 103 (90%-98.9%AccuracyLevel) Quality Recognition Award and the MT 202 (98% -99.96% Accuracy Level)QualityRecognition Award'.

The award was presented to Mr. Mohsen Rashad by Mr. Alexandar Caviezel, ManagingDirectorEMEA Regional Executives at JP Morgan Chase, on Monday 8th of June. Mr.Alexandarhad stated that AAIB is the first bank in Egypt to receive both awardsin commercialpayments MT 103 and Financial Institutions Payment MT 202. Latteraward has neverbeen granted in Egypt where no bank reached the very high levelof accuracy requiredfor this specific award.

In conformity to such international recognition AAIB has won a similar award inEuroClearing by Commerzbank AG (Our main euro clearing correspondent) in recognitiontoexcellent quality of both commercial and financial SWIFT payment processing for2008namely STP Award for Excellent Quality in Commercial and Financial transfers.

The eligibility to said award for SWIFT Commercial Payment is reaching/exceedingpercentageof full automation of 80% and for SWIFT Financial Payment reaching/exceeding90%fully automated Straight Through Processing.

It is also worth mentioning that persistent enhancement is provable for 2009 inbothcategories where SWIFT Financial Payment for Q1 2009 has an unprecedented levelofaccuracy reaching 97.73%