QIB wins 'Straight Through Processing Excellence' award from Citi

28/09/2026 07:18 AST

Qatar Islamic Bank (QIB) has received Citi's annual 'Straight Through Processing Excellence' (STP) award, in recognition of its outstanding performance in commercial payments and achievement of an exceptional 99.7% STP rate.

The award was presented during a meeting held at QIB head office, attended by representatives from QIB and Citi.

Citi's STP excellence award is presented annually to banks that demonstrate high levels of efficiency in processing foreign currency payments. The recognition highlights QIB's continued focus on strong controls and rigorous payment-processing standards, enabling seamless straight-through processing at Citi.

STP enables payments to be processed automatically without manual intervention, helping enhance accuracy while reducing processing time and resources, and delivering greater efficiency for all stakeholders.

Saleem Ul Haq, QIB chief operating officer, Operations & IT Group, said: "Receiving this recognition once again reflects our continued focus on quality, automation and strong controls across commercial payments.

"It is a testament to the dedication of our teams in ensuring seamless, timely and accurate transaction processing for our clients while maintaining the highest international standards. With our experienced teams, robust IT infrastructure and advanced delivery channels, we remain committed to providing the highest quality of service to all our customers."

Seemanti B Considine, head of Middle East & Pakistan - Financial Institutions Sales, Citi, said: "Citi is pleased to present this award to QIB in recognition of its outstanding performance in straight-through processing across commercial payments. We are very proud of our relationship with QIB and thank them for their continued partnership."

The latest recognition reinforces QIB's commitment to maintaining the highest standards of operational efficiency, supported by advanced technology, robust controls, and seamless payment-processing capabilities.

Gulf Times