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Monday 30 Nov 2015 - 21:25 Makkah mean time-18-2-1437
KIB representatives with JPMorgan officials during the award ceremony. Image from Arab Times
Kuwait City, (IINA) – The Kuwait International Bank (KIB) win recently the Elite JPMorgan Chase Quality Award for the year 2015 affirming its leading position in the Islamic banking industry.
The award comes in recognition of the bank for its outstanding performance in “Straight Through Processing” (STP) payments and efficiency in processing international transfers in US dollars, Arab Times daily reported.
Acting CEO & GM Financial Control & Planning Department at KIB Mohammed Said El Saka, said: “We are very proud to receive this outstanding award that translates the sound success achieved by implementing our new promising transformation strategy at the beginning of this year, which aims at sustaining our leading position locally and abroad by providing quality services that comply with the Islamic Shariah principles”.
He added that this award was earned by the bank in recognition of its outstanding performance in STP payments and efficiency in processing international transfers that meet our clients’ growing needs.
This award is granted to select banks worldwide that meet the strict criteria for processing US dollar payments through JPMorgan Chase Bank where KIB exceeded the stringent STP performance standards by achieving an STP rate of 99.09 percent for the MT103 category of payments
SM/IINA
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