News 2006

June 2006


The First Middle East Bank Ever: Samba is Granted The Banker Technology Award 2006

Samba has won an award in "innovation in Technology" within The Banker Magazine 2006 Technology Awards, as announced in The Banker Magazine, June 2006 issue. The award was presented during a ceremony held in Sheraton Park Hotel in London on June 8, 2006, during which The Banker editors explained the judges decision for choosing Samba IT's Straight through Processing System (STP) over any other application.

The Award was categorized under the "new technological channels, products and services". Samba is the first Middle East Bank to win this prestigious award for its innovative Straight through Processing System developed and constructed by its own IT Division and effectively used in several IPO share subscriptions, during which Samba has demonstrated unprecedented excellence and supremacy in terms of the enabling several alternative electronic channels which streamlined the subscription process with high flexibility and transparency.

"This award signifies Samba's great potentials to cope with the world's most advanced technologies and crystallizes the Bank's continued endeavors for innovation in its banking processes as well as quality services provided to its customers" said Mr. Eisa Al-Eisa, Samba's Managing Director & CEO, and added "Such efforts is the main pillar to support the leading position of the Bank and its competitive strength which has been enhanced further through its local management on the regional and international levels".

Al-Eisa was also quoted as saying "Samba's successive steps to develop its technological environment and systems ranked it on top of all IPO Management sector, in which Samba acquired incomparable reputation due to its outstanding performance in managing some of the largest IPO's ever witnessed in the Kingdom." Finally, Al-Eisa extended his thanks & gratitude to Samba employees for their dedication & team working efforts, the impetus for such great achievements.