Barwa Bank, Qatar’s most progressive Shari’ah compliant service provider, received a prestigious award from Standard Chartered Bank for Straight through Processing (STP) for USD Clearing during 2014.
Each year, the STP Awards are presented to a few select banks that meet very strict selection criteria and transaction monitoring mechanisms.
Barwa Bank’s award was handed in recognition of its outstanding levels of automation in USD payment platform.
The bank received the accolade during a ceremony held at its headquarters in Doha on March 3rd. Keith Bradley, Group Chief Operating Officer and General Manager International, accepted the award on behalf of the bank, expressing his gratitude in a statement:
“We are proud and thankful to have been recognized by such a credible International Financial institution and one of the top players in the banking industry. This award clearly demonstrates Barwa Bank’s capability to be Qatar’s most progressive Shari’ah compliant service provider. We are keen to maintain this performance by improving our payment platforms to keep facilitating our customer experience and supporting growing business needs through technology”.
Barwa Bank has been continually acknowledged in international and regional forums for its leading role in the banking industry. In 2014, the bank took on a large number of initiatives to improve operations unit’s performance, which has helped achieve a higher level of accuracy in payments through STP. These efforts are continuous, with more service enhancements to be offered to customers during the year.
Standard Chartered is a leading international banking group committed to building a sustainable business over the long-term. It operates in some of the world’s most dynamic markets for over 150 years, with 1,600 branches, offices and outlets in 70 countries.