Ithmaar Bank, a Bahrain-based Islamic retail bank, announced that it achieved exceptional operational efficiency in 2014 to earn an excellence award from Standard Chartered Bank.

The bank was awarded the ‘Straight Through Processing (STP) Excellence Award’ for achieving 94.5 per cent efficiency in the execution of electronic payments during 2014, said a statement from Ithmaar Bank.

The award was presented to Abdulrahman Al Shaikh, general manager, head of banking operations, information technology and administration of Ithmaar Bank by Hassan Qambar, director of financial institutions – transaction banking of Standard Chartered, at a ceremony held at the bank’s headquarters.

Speaking on the win, Al Shaikh said: “This award is an achievement that demonstrates our operational efficiency, and it was made possible by the commitment, dedication and expertise of our operations team.”

“We are committed to becoming the kingdom’s Islamic bank of choice, and to do so, we focus on enhancing our customer’s satisfaction by continuously improving our products and services, as well as our transaction processing,” he added. – TradeArabia News Service