QIIB bags STP award again
06 Jun 2016 - 2:03
DOHA: QIIB has again bagged the STP award for the high percentage of ‘Straight Through Processing’ for their foreign payments, instituted by Citi, New York to banks with excellent operational performance with regards to foreign payments.
Jamal Al Jamal, Deputy CEO of QIIB received the award from Ala Qumsieh, Head of Corporate Banking Qatar, KSA, and Bahrain during a ceremony held at the QIIB headquarters at the Grand Hamad Street 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 from QIIB.
“We are proud to receive this award again from Citi 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,” said Jamal Al Jamal. “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,” he added.
The QIIB representative stressed that the cooperation with Citibank will continue and grow, especially in light of the efforts deployed by both institutions to enhance the development and services of business sector in countries where they operate.
“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,” said Ala Qumsieh.