QIIB’s high percentage of Straight Through Processing (STP) for its foreign payments has earned it again the “STP Award” from Citi, which recognises banks with “excellent operational performance” on foreign payments.
QIIB deputy CEO Jamal al-Jamal received the award from Ala Qumsieh, head of Corporate Banking Qatar, Saudi Arabia, and Bahrain, during a ceremony held at the QIIB headquarters in Doha.
The ceremony was also attended by Mohsin al-Mahdi, director - Correspondent Banking Group from Citi, and Asim Mahmood, head of International Operations, and Ahmed Ballan, head of Local Operations at QIIB.
Al-Jamal said: “We are proud to receive this award again from Citi in recognition of the efforts deployed by our operations team and the advanced technological infrastructure used by the bank in line with the latest applications and internationally-benchmarked best practices in the global banking payments.”
He added: “The foreign payments operations in banks have gained a lot of focus these days. Such operations require a high-degree of accuracy, efficiency, and professionalism to ensure direct transfer of funds and receipt by beneficiaries without manual intervention. At QIIB, we prioritise serving our clients using the best technology to ensure and efficient high quality service.”
QIIB stressed that the co-operation with Citibank “will continue and grow,” citing efforts deployed by both institutions to enhance the development and services of business sector in countries where they operate.
Qumsieh said: “QIIB has won this award given its efficiency in managing the foreign payments operations.
The business records prove the conformity with the best global adopted standards. We highly appreciate QIIB’s distinguished management of the foreign payments through STP, which result in a maintained and continuously developed quality of service.
“Citi has a strong relationship with reputed financial institutions like QIIB and this will continue for the benefit of customers with the aim of improving the overall business environment in the countries we operate in.”
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