Dubai, August 28, 2013: Noor Islamic Bank (Noor) announced today that it 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 recognises 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% in 2012. In June of this year, Noor's performance rating ranged between 99.93 per cent and 100 per cent.
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 award ceremony took place 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 honoured to be recognised 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. These 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'.
About Noor Islamic BankNoor Islamic Bank began operations, in Dubai, in 2008. It is a full service bank delivering the broadest range of products for its customers, with an emphasis on unique and personalized services. Noor Islamic Bank's products and services are governed by a Shari'a Board, comprising leading Islamic scholars with extensive experience and expertise in legal, financial and banking-related matters. Noor Islamic Bank has locations across the UAE in the Emirates of Abu Dhabi, Dubai, and Sharjah. Noor Islamic Bank is 94.9% owned by Noor Investment Group and 5% owned by the Emirates Investment Authority. The remaining 0.1% is held by high net worth individuals and corporations in the UAE.
For further details, please visit: www.noorbank.com or call 800NOOR(6667).