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LEAVE A COMMENT Your email address will not be published.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*
Realty, banking sectors help QSE inch near 10,500 level
Qatar calls for stronger producer-consumer ties in natural gas market
QLM readies 60% IPO to raise QR659.4mn
Qatar-EU trade volume reaches $7bn in 2020: Al-Kuwari
QIB recognised as ‘Bank of The Year: Qatar’ for second time
QBA lauds continuous government support for the private sector
Applications open for cycle 11 of QSTP’s flagship accelerator programme
2022 World Cup to strengthen economic momentum in Qatar: Oxford Economics
Qatar puts innovation at the heart of economic transformation