United Bank of Egypt receives award for money transfers

Daily News Egypt
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Award is considered a confirmation of the excellence of services provided Mohamed Abdel Aal, Board Member of both the Suez Canal Bank and Arab Sudanese Bank, discussed banking regulations Public domain DNE Photo DNE


The United Bank of Egypt has won an award for performance in the field of direct payment processing. For the third year running, the bank was given the “Straight-Through Processing Excellence Award” by Standard Chartered Bank, USA.

The award is considered a confirmation of the excellence of services provided in the field of electronic payments in line with international standards. The bank obtained a score of 98.3%, according to the international performance indicator of Standard Chartered Bank USA. The standard rates for international performance in this service are set at 95%.


The award was presented by Regional CEO of Standard Chartered Bank Ahmad Abu Eideh, Executive Director of the office of Standard Chartered Bank Egypt Amr Abbas, and Customer Relations Manager Youssef Ali.

The award was received by Farag Abdel Hameed, the chairman and managing director of the United Bank of Egypt, as well as Amr Maher, the bank’s vice chairman and managing director, in the presence of work teams of the two intuitions.

According to Abdel Hameed, the international award is considered “an international certification of the United Bank’s commitment to the highest-quality performance through the application of national standards and measurements in fields of money transfer and electronic payments”.


Electronic payment systems are elements that facilitate global trade, with the speed and accuracy of money transfers for customers significantly reduces time and costs, generally improving global trade.

Abdel Hameed noted that direct processing systems of transfer operations reflect “the efficiency of the United Bank’s team use of modern payment systems that were provided to them since the bank’s early establishment.”

Abu Eideh said that United Bank of Egypt had managed to achieve the highest levels of performance in the field of electronic payments for three years respectively, thanks to the efficiency of the human element in it.

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