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LEAVE A COMMENT Your email address will not be published.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*
Bond rally poses dilemma for Africa issuers facing debt wall
Bain Capital plans second-round bid for Virgin Australia
China exporters look inwards as virus hits overseas markets
Dow Jones showing its age getting crushed in recovery trade
Santander and BBVA investors question lagging US businesses
Companies worth $2tn are calling for a green recovery
After Ghosn and coronavirus, Renault, Nissan weigh future
Large corporates urged to offer concessions to SMEs to support economy
Robust digital ecosystem seen in Qatar after Covid-19 crisis