ABU DHABI, UAE: As part of Al Hilal Bank’s Digital and Operations transformation programme, we are delighted to announce the introduction of our Payments STP (straight-through-processing) initiative. With STP, online (internet banking/ mobile banking) fund transfers in AED and inward fund transfers are now carried out almost instantly, adding speed and efficiency to the process.
Speaking on the announcement, Alex Coelho, Al Hilal Bank CEO, said, “With this latest innovative addition to fund transfer efficiency, we are once again giving our customers enhanced experience. This initiative adds another level of excellence to our fully transparent Shariah-compliant products designed to give Al Hilal bank customers the ultimate banking experience.”
Thani Al Hammadi, Managing Director of Operations and Shared Services At Al Hilal Bank, said, “Speeding up this process is in line with our continuous commitment to delivering effective and efficient services in order to enrich our customers’ experience. Al Hilal Bank customers can now opt for Online Fund Transfer in UAE Dirhams to a third party and release the funds to the receiving bank almost instantly. This is yet another demonstration of how committed we are to the continuous improvement of our processes and products, using technology to create innovative and lasting benefits for our valued customers.”
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About Al Hilal Bank
Established in 2007, Al Hilal Bank is a progressive Islamic bank headquartered in Abu Dhabi (UAE) offering a wide range of client-centric Shariah compliant Wholesale Banking, Retail Banking, Treasury and Wealth Management. The Bank is 100% owned by the Government of Abu Dhabi, through the Abu Dhabi Investment Council (ADIC), with issued and paid up capital of AED3.5 billion. The Bank enjoys strong long-term credit ratings of A+ and A2 by Fitch and Moody’s respectively. The Bank has 17 retail branches across the UAE and 3 branches in Kazakhstan through which they offer digital-based services, enhancing the Bank’s performance-driven culture. Al Hilal Bank has been recognized as the Safest Islamic Financial Institution in the GCC by Global Finance in 2016 and in 2017.
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