AHLI UNITED BANK AWARDED ‘BEST FOREIGN EXCHANGE BANK IN THE MIDDLE EAST’ FOR THE FIFTH CONSECUTIVE YEAR

Ahli United Bank B.S.C. (AUB) has been selected ‘Best Foreign Exchange Bank in the Middle East 2011’ by New York based Global Finance magazine, one of the world’s leading financial publications. This is the fifth consecutive year that AUB has been recognized as the best performing foreign exchange bank across the Middle East, an achievement that no other bank has accomplished so far.

Together with the regional award for the Middle East, AUB was also named the “Best Foreign Exchange Bank in Bahrain”.

“We are delighted to once again be recognized as the top foreign exchange bank in the Middle East by a journal as reputed as Global Finance. This is a testament to the excellence and expertise of our team as well as to our consistent ability in meeting our customer’s requirements year-on-year through different market conditions”, said Fahad Al Rajaan, Chairman, Ahli United Bank.

“Over the years we have continued to grow our FX volumes through leveraging on our regional network across the Middle East and our strong local presence in each of the markets we operate in.”, added Mr. Al-Rajaan.

“Sovereign debt problems in Europe, China’s monetary tightening and the Federal Reserve’s quantitative easing are causing volatility in the foreign exchange markets. Corporations around the world need to select a strong, knowledgeable FX bank to help them cope with the turbulence in the markets,” said Joseph D. Giarraputo, publisher and president of Global Finance.

A panel of Global Finance editors selects the award winners after assessing input from industry analysts, corporate executives and technology experts. The Global Finance awards panel assesses banks against specific criteria which include: transaction volume, market share, scope of regional coverage, customer service, competitive pricing and innovative technology.