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Posted On: 16 October 2011 12:22 pm
Updated On: 12 November 2020 02:11 pm

Commercialbank awarded for remittance service

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Commercialbank has again been given the ‘Elite Quality Recognition Award’ by a world leader in the banking sector, JP Morgan Chase. The prestigious award recognises Commercialbank’s ‘superior service quality and consistently high performance’ in international money transfers. The JP Morgan Chase annual ‘Elite Quality Recognition Award’ was instituted in 1997, to honour banks who achieve a best-in-class level of operating excellence. The award has a rigorous selection process with banks having to demonstrate that they are able to meet the stringent criteria for straight-through-processing (STP) of payments. Commercialbank is one of the few institutions in the region to receive the ‘Elite Quality Recognition Award’ in 2011, for both customer payments and inter-bank payments. At a ceremony held at the Commercialbank Plaza, Ali Moosa, managing director and senior country officer of JP Morgan Chase Bank together with Sherif Abdelsalam, vice president, financial institutions ME, presented the award to senior management from Commercialbank. Members of Commercialbank’s operations team and the international banking division were present. Congratulating Commercialbank for this outstanding achievement, Moosa said: “These two awards are a reflection of the hard work and dedication of Commercialbank’s funds transfer operations management and staff. This elite award is the highest level of recognition for operational excellence from JP Morgan reflecting Commercialbank’s ability to meet the qualifying requirements in today’s challenging environment. The award clearly demonstrates Commercialbank’s outstanding performance in STP and a long-term commitment to quality. We are proud to recognise Commercialbank’s achievements and look forward to its operations team, exceeding their levels of performance in the years to come.” Sandeep Chouhan, Commercialbank Group chief operating officer aid: “We are thrilled that our continued focus on accuracy and controls has once again been recognised by JP Morgan Chase. The award reflects the service excellence delivered by the entire team. It is also an evidence of Commercialbank’s long-term commitment to reliability, performance, delivery and accuracy. “We remain committed to offer the highest quality products and services to our customers. On behalf of Commercialbank, I thank JP Morgan Chase for the recognition,” he added. Gulf Times