Barhoumeh: QIIB has Strengthened Its Investment in Banking Technology

Citibank New York has awarded Qatar International Islamic Bank (QIIB) the 2024 Excellence Award for Straight Through Processing (STP) in international payments. This recognition highlights QIIB’s professionalism in executing operations and its remarkable achievements in this field.

Mr. Mohammed Khair Barhoumeh, Chief Operation Officer at QIIB, received the award from Mr. Mohamed Ahmed Al Hammadi, Head of Middle East & Pakistan – Financial Institutions Sales at Citibank, during a ceremony held at QIIB’s headquarters. The event was also attended by Mr. Mohammed Galadari, Vice President, Financial Institution Sales at Citibank, and Mr. Najeeb Ahmed Nasiruddin, Head of Payments & International Operations at QIIB.

Citibank explained that the award was granted to QIIB in recognition of its outstanding performance, which exceeded expectations in the execution of international payments. The award also recognizes QIIB’s dedication to maintaining the highest global standards and enhancing its technological infrastructure, enabling exceptional performance in processing international payments.

On the occasion of receiving the award, Mr. Barhoumeh stated: “We are honored to receive the Excellence Award in International Payment Processing from Citibank New York. This prestigious recognition reaffirms our commitment to maintaining the highest standards in our operations. It is not the first time we have received this award, which reflects our ongoing dedication to excellence and innovation. At QIIB, STP for international payments is a key area of focus, alongside other banking services. We will continue to work closely with all relevant stakeholders to ensure our customers receive the best-quality services and an exceptional banking experience.”

He added: “Receiving this award from Citibank reflects QIIB’s excellence in managing international payment operations, meeting the high standards of precision and efficiency required in the banking sector. Our team’s expertise ensures that systems operate seamlessly without manual intervention, guaranteeing that funds are delivered to beneficiaries promptly, accurately, and without errors.”

Mr. Barhoumeh further noted: “QIIB remains committed to significant investments in modern banking technology, ensuring alignment with the latest advancements in digital transformation. We have made remarkable progress in executing our digital transformation strategy, resulting in high levels of customer satisfaction with the technological enhancements they have experienced. These advancements have also driven continuous improvements in QIIB’s operational efficiency.”

He concluded: “QIIB is focused on further strengthening its long-standing partnership with Citibank, fostering mutual benefits for both institutions and delivering exceptional value to our esteemed customers. Through this collaboration, we aim to consistently provide international payment services that adhere to the highest standards of excellence in the banking industry.”