HSBC voted Best Cash Management Bank in the Middle East

Cash managers, treasurers and financial officers worldwide were asked to indicate: which international banks they currently use most for their cash management services globally, regionally and domestically, and were also asked to rate the services provided by their lead cash management bank across various categories on a sliding scale.

As one of the strongest cash management banks in the Middle East, HSBC has pioneered a consultative approach to cash management, ensuring a more collaborative process in which customer needs are the main focus in delivering tailor made cash management solutions.

In addition to winning the crown for the overall Best Cash Management Bank across the region, the Bank was also selected as the Best Domestic Cash Manager in Bahrain, Egypt, Jordan, Kuwait, Pakistan, Qatar, Saudi Arabia and United Arab Emirates for in-country cash management services.

"We are pleased to see that Corporates in Qatar have, once again, voted HSBC as the Best Domestic Cash Manager in Qatar for 2009. It is encouraging to see the results of the time, efforts & financial resources HSBC has invested in developing and marketing the Best in Class Cash Management products, services & solutions in the Qatar financial market. Our resolve is to build upon such successes & reinforce our proposition with robust service & after sales support,"

said Abdul Hakeem Mostafawi, CEO of HSBC Qatar.

Commenting on the accolade, Paul Edgar, Regional Head of Global Transaction Banking, HSBC Bank Middle East said: "Winning this award demonstrates our service delivery and commitment to providing our clients with innovative and visionary leadership in the cash management space. Clients choose HSBC for its international network of 86 countries and territories, on the ground expertise and our ability to marry service excellence with technical strength in engineering customised solutions.

"We are delighted to receive such appreciation from our clients. We recognise that we cannot become complacent and that we need to continually look at ways of improving our service even further."

HSBC delivers a wide range of market leading global liquidity and cash management solutions for regional businesses to enhance working capital and meet the evolving needs of its customers around the Middle East.

This includes Trade Services and Supply Chain, Payments and Cash Management and Securities Services.

Global Transaction Banking supports the clients of both Global Banking and Markets and Commercial Banking divisions, covering both corporate as well as financial institutions around the world.