Bank Sohar wins STP recognition from JP Morgan

Muscat / EMIRATES BUSINESS

Marking its third award of the year, Bank Sohar was recently recognised as one of the best ‘Straight Through Processing’ (STP) banks in Oman by JPMorgan Chase Bank, National Association, a subsidiary of JPMorgan Chase & Co. and a globally renowned financial firm.
Award was handed over to Bank Sohar at its headquarters in MBD by Karim Sinno, Executive Director, Financial Institutions, and Mohammed A. Al Dakheel, Client Service Account Manager atJPMorgan Chase Bank . Receiving the award on behalf of Bank Sohar were Saif Al Harthi, AGM of Central Operations and Faiza Abdullah Al Rawahi, Sr. Chief Manager of Branch Support and Payments. This award is in appreciation of the quality and accuracy of SWIFT payment messages sent by Bank Sohar , wherein the Bank maintained an outstanding of 99.92% modification-free rate for bank remittances in USD. The award was later celebrated with a department get-together at the Bank’s Headquarters and in the presence of Khalfan Rashid Al Taley, DGM and Head of Operations at Bank Sohar. On receiving the award Khalfan Rashid Al Taley said, “This award, from such a prestigious firm as J. P. Morgan Chase Bank, is clearly an indicative of the exceptional and unique quality in the delivery of international payments and settlements by Bank Sohar.
We see STP as a key element of customer service and always look towards automating error-free transactions and achieving the best possible international standards. In our constant effort to do so, we have become one of the leading STP banks in the country, garnering a reputation for implementing innovative new ideas along with the most advanced services possible; allowing us to better serve our clients’ needs.
As a matter of fact, our ever-evolving automated systems have translated into faster remittances and settlements for our valued clientele and has practically eliminated the need to send time consuming inquiries on the transfer status of payments.”