Citibank has chosen Doha Bank for “US Dollar Payments Straight Through Processing (STP) Excellence Award.”
“We are proud to receive this prestigious award from Citibank. This award acknowledges the bank’s outstanding performance in the execution of payments in dollars seamlessly,” Doha Bank group chief executive Dr R Seetharaman said.
This award is conferred annually to the best-in-class banks by their main USD clearer in recognition to their success in correctly formatting foreign currency payments. STP means that the payments sent to the bank for clearing by its correspondents are being processed automatically without human intervention.
Doha Bank achieved a STP rate of 99% for all treasury and commercial payments in 2019.
Doha Bank operations are geographically spread across strategic locations in Qatar. The bank also operates six full-fledged branches in the UAE, Kuwait and India, and has representative offices across the globe encompassing a robust and strategic network of correspondent banking relationships.
LEAVE A COMMENT Your email address will not be published. Required fields are marked*
Qatar is making proactive efforts to deal with repercussions of pandemic: Official
Brexit deal on Gibraltar still possible, says CM
Business transformation, the need of the hour
UK’s Gatwick Airport sees travel boost from new testing rules
UK set to impose tougher rules on Google, Facebook
Sensex ends lower; rupee snaps five-day winning streak
Japan bond market in the dark on new sales as virus cases spike
Japan’s ANA to raise up to $3.2bn as coronavirus outbreak roils airlines
US, Taiwan to push an alternative to China’s Belt and Road