JP Mor­gan hon­ours Doha Bank for its ‘Best-in- Class STP’ feat

Gulf Times Business - - BUSINESS -

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.

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