JP Morgan honours Doha Bank for its ‘Best-in- Class STP’ feat
JP Morgan, New York has selected Doha Bank for the ‘Elite Quality Recognition Award for Outstanding Achievement of Best-in-Class STP’, the bank has announced yesterday.
Doha Bank group CEO Dr R Seetharaman said, “We are proud to receive this prestigious award from JP Morgan. This award acknowledges the bank’s outstanding performance in the execution of payments in dollars seamlessly.”
The award is conferred annually to bestin- class banks by their main US dollar clearer in recognition of their success in correctly formatting foreign currency payments. ‘ Straight through Processing’ means that the payments sent to the bank for clearing by its correspondents are being processed automatically without human intervention.
Doha Bank operations are geographically spread across strategic locations in Qatar. The bank also operates 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.
Dr Seetharaman receiving the award from JP Morgan.