Saturday, May 21, 2022

JS Bank Receives USD Clearing Elite Quality Recognition Award by JP Morgan


Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at

25th February 2022: JS Bank, one of the fastest-growing banks in Pakistan, has received the 2021 USD Clearing Elite Quality Recognition Award for its Outstanding Achievement by JP Morgan, a global leader in financial services.

The Bank won the MT 202 Elite Quality Recognition Award which is only given to clients who achieve STP (Strait Through Processing) of 99.7% or more. The award was given based on the Bank’s high-quality USD outward MT-202 payments in which 99.93% of transactions were STP without any manual intervention. Recipients of these awards have to demonstrate superior transaction processing leading to higher efficiencies, faster payments, cost reductions, and honoring of commitments to operational excellence to their customers.

The award was presented to Basir Shamsie, President & CEO – JS Bank by Amin Khowaja, CEO – JP Morgan in a recent event held at JS Bank Head-office in Karachi.

Previously, the Bank had received Quality Recognition Award by JP Morgan in 2020 based on its robust performance in this domain. With the aim of continuous improvement and creating new benchmarks, the Bank has been able to qualify for the Elite Award based on consistent performance and the objective to deliver the best to its customers.

Speaking at the occasion Basir Shamsie, mentioned “It is a matter of great pride that the awards won by JS Bank recognize the ultimate level of performance by leading client banks like JP Morgan. Our Bank has won this accolade after exceeding the elite benchmarks in both categories. Living up to our motto of a futuristic corporate entity, we work every day to create a positive impact and support economic growth. This means that all our functions work together with the vision to provide impeccable financial service to our customers and this award is a recognition of our efforts and a motivation for us to go above and beyond to provide innovative financial solutions.”

Mr. Amin Khowaja, CEO of JP Morgan expressed his confidence in JS Bank and stated, “

Committed to its aim of growing forward for the progress and prosperity of the economy, the Bank continues to provide innovative conventional and digital financial solutions to its customers.

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