Gulf Bank Receives Straight Through Processing Excellence Award 2016 from Citibank

Gulf Bank today announced it has actually been awarded the distinguished Straight Through Processing Excellence Award 2016 from Citibank for the Bank's STP Rate of 99.8% for Treasury and business payments. This is the Sixth consecutive year that Gulf Bank obtains this award.

Straight Through Processing (STP) is the full automation of a payment transactions by which financial institutions get and refine a repayment by a digital system without the demand of any kind of hands-on intervention. This automated procedure raises the performance and eliminates any type of hold-up in execution of payments.

The award was obtained by Mr. Khaled Al-Mutawa - General Manager - International Banking and Investments; Ms. Mona Mansour - General Manager - Customer Service Delivery, Ms.Maab Al Qassem - Executive Manager - International Banking & Investments; and Ms. Nouria AlBader - Deputy General Manager - Central Workflow. It existed by a group of Citibank representatives that included Mr. Mohamed A. Al-Hammadi - Vice President - Contributor Banking Group Middle East & Public Industry - Treasury and Trade Solutions, Mr. Emre Umut - Director - Head of F.I. & Reporter Banking Sales - MENAPT, Mr. Omar Kopti - Vice President - Corporate & investment Bank and Mr. Mohannad Barakat - Vice President - Treasury & Trade Solutions Head.

Getting the award in support of the Bank, Mr Al-Mutawa stated: "We are honored to get this award and happy to be recognized by such a prominent financial institution as Citibank. Getting this award is recommendation for being one of the top reporter banks and it strengthens our reputation as a market leader in procedures and solution quality."