Noor's A B Kamath, Head of Operations and Administration, and Kazim Ali, Head of Corporate Banking, were presented the award by Chafic Haddad, Head of Basnk Services MENA, Pakistan and Turkey, Citi Transaction Services, at Noor's headquarters, in Emaar Square, Downtown, Dubai. DUBAI — Noor Islamic Bank (Noor) has been awarded the prestigious Citibank Straight Through Processing (STP) Excellence Award for outstanding service related to customers' international electronic payment transfers. The Citibank Straight Through Processing Excellence Award recognizes the most efficient financial institutions worldwide which meet Citibank's rigorous correspondent banking and processing accuracy criteria for customers' international electronic payment transfers. Noor achieved an average STP rate of 98 percent in 2012. In June of this year, Noor's performance rating ranged between 99.93 percent and 100 percent. The award, which is given after lengthy analysis by a specialist London-based Citibank team, was presented to Noor's A B Kamath, Head of Operations and Administration, and Kazim Ali, Head of Corporate Banking, by Chafic Haddad, Head of Basnk Services MENA, Pakistan and Turkey, Citi Transaction Services. The awarding ceremony was held at Noor's headquarters, in Emaar Square, Downtown, Dubai. Kazim Ali, Head of Corporate Banking, at Noor, said: “Our customers are the core focus of our banking offering, so we are particularly honored to be recognized by Citibank, one of the world's leading banks, for outstanding customer service. “Manual intervention in the processing of international payments is costly and delays customers' international electronic payments. Ensuring the accuracy of electronic payments speeds up transfers and keeps fees down. This award from Citibank validates our standing as a market leader in operations, service and quality.” The Citibank Straight Through Processing Excellence Award is the latest in a series of awards won by Noor in the past 12 months. The others include the ‘STAR AWARD for the Best Complaint Management and Service Recovery in the Private Sector'; the ‘Bank Benchmarking Index Most Improved Call Center Award'; the Trade & Export Middle East ‘Islamic Finance Bank of the Year Award' and the Banker ME ‘Best Corporate Account Award'. — SG
