Gulf Bank re­ceives ‘Straight Through Pro­cess­ing Ex­cel­lence’ award 2016

Kuwait Times - - BUSINESS -

Gulf Bank yes­ter­day an­nounced it has been awarded the pres­ti­gious ‘Straight Through Pro­cess­ing Ex­cel­lence’ Award 2016 from Citibank for the Bank’s STP Rate of 99.8 per­cent for Trea­sury and com­mer­cial pay­ments. This is the Sixth con­sec­u­tive year that Gulf Bank re­ceives this award.

Straight Through Pro­cess­ing (STP) is the full au­to­ma­tion of a pay­ment trans­ac­tions by which fi­nan­cial in­sti­tu­tions re­ceive and process a pay­ment by an elec­tronic sys­tem with­out the re­quire­ment of any man­ual in­ter­ven­tion. This au­to­mated process in­creases the ef­fi­ciency and elim­i­nates any de­lay in ex­e­cu­tion of pay­ments.

The award was re­ceived by Khaled Al-Mutawa - Gen­eral Man­ager - In­ter­na­tional Bank­ing and Investments; Mona Man­sour Gen­eral Man­ager - Cus­tomer Ser­vice De­liv­ery, Maab Al-Qassem - Ex­ec­u­tive Man­ager In­ter­na­tional Bank­ing & Investments; and Nouria AlBader Deputy Gen­eral Man­ager - Cen­tral Op­er­a­tions. It was pre­sented by a team of Citibank rep­re­sen­ta­tives that in­cluded Mo­hamed A AlHam­madi - Vice Pres­i­dent Cor­re­spon­dent Bank­ing Group Mid­dle East & Pub­lic Sec­tor - Trea­sury and Trade So­lu­tions, Emre Umut -Di­rec­tor - Head of F.I. & Cor­re­spon­dent Bank­ing Sales MENAPT, Omar Kopti - Vice Pres­i­dent - Cor­po­rate & in­vest­ment Bank and Mo­han­nad Barakat - Vice Pres­i­dent - Trea­sury & Trade So­lu­tions Head.

Re­ceiv­ing the award on be­half of the Bank, Al-Mutawa said: “We are hon­ored to re­ceive this award and proud to be rec­og­nized by such a renowned fi­nan­cial in­sti­tu­tion as Citibank. Re­ceiv­ing this award is ac­knowl­edg­ment for be­ing one of the top cor­re­spon­dent banks and it re­in­forces our rep­u­ta­tion as a mar­ket leader in op­er­a­tions and ser­vice qual­ity.”

KUWAIT: Khaled Al-Mutawa, Gen­eral Man­ager - In­ter­na­tional Bank­ing and Investments, and Mrs. Mona Man­sour, Gen­eral Man­ager -Cus­tomer Ser­vices De­liv­ery ac­cept­ing the award from Citibank rep­re­sen­ta­tives.

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