Bank Sohar receives STP recognition from JPMorgan

22/02/2016 07:53 AST

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. The 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 at JPMorgan 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 per cent 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 JPMorgan Chase Bank, is clearly an indicative of the exceptional and unique quality in the delivery of international payments and settlements by Bank Sohar.”


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