The International Bank of Qatar (ibq) has announced it has been exclusively selected by Barclays to receive its ‘GBP Straight Through Processing (STP) Award’.  

This is a coveted title launched for the first time by Barclays; an industry initiative for the Qatari market covering Barclays Platinum and Diamond Financial Institution clients in the Mena region, a statement from the bank said.

Barclays STP award reflects ibq’s straight-through-processing expertise in the delivery of commercial, retail and financial payments in GBP. The award is also in recognition of ibq’s cutting-edge innovation and advanced payments systems architecture, which facilitates automated processing throughout the payment chain.

Rezwan Mirza, managing director and head of UAE and GCC corporate banking division for Barclays, said: “Our award is designed to highlight uncompromising standards of operational excellence and quality in the banking and finance industry and ibq is an exemplar. We are very pleased to see ibq leading on this front and rewarded with this world-class title which they truly deserve.”

James Nelson-Parker, AGM operations and IT, ibq, said: “We’re very honoured with this prestigious award particularly when it is championed by a global financial leader the calibre of Barclays.”

“This is the third time that we have been recognised for our outstanding payments systems underlining our unparalleled channels of delivery, and our highly qualified team of experts. The award is also a solid testament to our continued investment in innovative banking technology.” – TradeArabia News Service