(MENAFN- The Peninsula) International Islamic (QIIB) won Citibank New York's "Best Bank in Qatar Award" for its excellence in 'Straight Through Processing' (STP) operations. This is the fourth time International Islamic is winning the coveted award.
STP is the automated process of payments without manual intervention, which increases processing speed, minimises routing errors, lowers operation and transaction costs while resulting in efficient, rapid payment execution for the bank and its customers.
Ehab Eshehawi, International Islamic's Chief Operating Officer received the award from Chafic Haddad, Regional Head, Financial Institutions, CEE and Mena Treasury and Trade Solutions, Citibank at a ceremony held at the International Islamic's headquarters.
QIIB's international operations head Asim Mahmoud and banking operations head Hesham Saad were among others who attended the function.
Eshehawi said, "We are delighted to have this recognition from Citibank New York. It is a recognition of the bank efforts in training and equipping our staff members and enhancing our technology in line with the STP requirements. The QIIB Bank office department deserves praise for its performance in this area."
"The award confirms that the bank is a front-runner in the area of customers' international electronic payment transfers, where the processes involved high degree of accuracy" We are always keen to provide an efficient, fast and reliable banking service to our customers. To this end, we have invested heavily in processes and systems, so that our customers receive maximum benefits", he added.
Haddad said, "QIIB's 'straight through processing' operations are matching to global standards."
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