The Arab Bank for Investment & Foreign Trade (Al Masraf), one of the UAE’S premier banking institutions has announced that it has won the Sheikh Khalifa Excellence Award 2021 in the silver category for its outstanding performance in the financial sector. This landmark achievement reflects Al Masraf’s financial and operational excellence gained through innovative global practices. 

The award was declared at the closing ceremony of the 19th edition of SKEA held at the auditorium in Chamber’s tower, Abu Dhabi. The award considered as an international standard of excellence was launched by the Abu Dhabi Chamber of Commerce and Industry, under the patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Force, to honour the outstanding achievements and contributions of business organizations across multiple sectors in the UAE. 

In the closing ceremony of the SKEA 2021, awards were declared in the diamond, gold, and silver category and the newly introduced Excellence Elite category. A total of 21 distinguished global and local companies that are competitive and consistent in delivering high-standard services to the customers received awards in the Excellence Elite category. 

Charles Doghlass, Acting CEO, Al Masraf said: “We consider this honor as a recognition of our noteworthy achievements in banking and finance as well as our enhanced operational performance, as Sheikh Khalifa Excellence Award is presented to organizations that deliver quality services and follow best practices. We are certain that this award will motivate us to be committed and proactive in delivering unique services to our clients and to achieve excellence in all our operations.”

“The experience and knowledge Al Masaraf possesses are instrumental for its growth and vital to make contributions to the economy of UAE as a prominent organization in the banking and financial sector. We thank the organizers of SKEA for this prestigious award, as it will boost our growth to become one of the most preferred financial partners in the region,” he added. 

The 2021 edition of SKEA witnessed an increase in the number of participants from various sectors such as manufacturing, services, finance, trade and commercial by 30 per cent. The assessments of the applications were carried out using remote methods and site visits. 

After considering the recommendations from the heads of assessment teams, following the careful evaluation of all the documents submitted by the applicants and the information gathered from the site visits, the higher committee declared the awards in each sector.

Al Masraf has adopted digital innovation as an integral component of its digital strategy and was the first bank in the region to introduce E-Guarantee service to the customers. The introduction of E-Guarantee service was in line with the organization's efforts to enhance performance and improve customer satisfaction through high-quality, transparent services. 

For its exceptional operational performance and excellent customer service, Al Masraf has received numerous awards over the years such as the Dubai Quality Appreciation Award 2018 at the Business Excellence Awards organized by the Department of Economic Development, Dubai, and the Sheikh Khalifa Excellence Award in 2016. 

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