• Home
• News Article

QNB receives 'Elite' J.P. Morgan Quality Recognition Awards for operational excellence in Treasury and Commercial payments

Less than 1% of the firm's clients receive these awards each year
Doha, 23 August 2010 - Qatar National Bank ( QNB ), the leading financial institution in Qatar and one of the largest in the MENA region, received the Elite J.P. Morgan Quality Recognition Award for excellence in achieving 99% Straight Through Processing ("STP") on both Commercial and Treasury Payments.

The Elite Quality Recognition Awards are given to institutional clients of J.P. Morgan that demonstrate best-in-class operational efficiency. Less than 1% of their clients are able to meet the strict criteria for the awards each year.

The award ceremony was held at QNB 's headquarters in Doha and attended by Mr. Mohamed Al-Khulaifi, Executive General Manager-Chief Operating Officer of QNB , Mr. Ali Darwish, Assistant General Manager Financial Institutions at QNB , Mr. Ali Moosa, Managing Director and Head of Financial Institutions, J.P. Morgan, MENA in addition to a number of officials from both sides.

JP Morgan commended the quality of QNB 's operational management which places the Bank in the highest percentile of global financial institutions to demonstrate Treasury and Commercial payments efficiency. These include financial institutions from Qatar as well as international banks.

MT103 and MT202 are Straight-Through Processing (STP) mechanisms that provide financial services providers with tremendous benefits, including greatly shortened processing cycles, reduced settlement risk and lower operating costs. These transactions utilize modern electronic instruction systems such as SWIFT and each numbered Message Type (MT) serves a specific purpose.

The MT103 'Elite' Quality Recognition Award is given only to J.P. Morgan clients achieving an STP rate greater than 99.0%, with a minimum transaction volume of 10,000 transactions during an assessment year. The MT202 'Elite' Quality Recognition Award honour clients achieving an STP rate greater than 99.7% over at least 8,000 transactions during the year.

-Ends-

About QNB
Qatar National Bank ( QNB ), established in 1964 as the country's first Qatari-owned commercial bank, has an ownership structure split between the Qatar Investment Authority (50%) and the private sector (50%).

QNB has steadily grown to be among the largest banks in the region and is by far the leading financial institution in the country, with a market share approaching 40% of banking sector assets.

QNB offers a full range of Retail, Corporate, Investment, Treasury, Wealth Management, and Islamic Banking products and services for individuals, corporate institutions and government entities in Qatar as well as internationally.

QNB has the largest distribution network in Qatar, comprising 44 branches and offices (including 3 mobile branches), in addition to 12 Islamic branches and offices operated by QNB Al Islami, and more than 160 ATMs.

QNB was the first conventional bank in Qatar to offer Shari'a-compliant banking products and services through QNB Al Islami, established in 2005.

QNB 's international presence is rapidly expanding to include new locations around the world to supplement the long established branches in London and Paris. Currently QNB has presence in 23 countries including branches in Yemen, Oman Kuwait & Singapore as well as Representative Offices in Iran & Libya. An Islamic branch was recently inaugurated in Sudan, offering a full range of Islamic banking services and products.

QNB has also extended its regional reach by acquiring shares in various financial institutions including 34.3% stake in the Jordan based, The Housing Bank for Trade and Finance (HBTF), 23.8% of the shares of Commercial Bank International (CBI) based in the United Arab Emirates (UAE), 50% of the Tunisian-Qatari bank and 20% stake in the Doha-based Al Jazeera Islamic Company. QNB also retains 49% stake in QNB -Syria, a private stock company established jointly with other Syrian private and public sector institutions which started operations mid November 2009.

" QNB Capital" was established in 2008, providing an array of investment banking services to corporate, government and institutional clients within Qatar and globally. These include one of the best corporate finance teams in the GCC region offering extensive transaction experience, in depth advisory services - including mergers and acquisitions, equity, debt and project advisory - as well as first-class research capabilities.

QNB is among the highest rated regional banks from leading credit rating agencies including Standard & Poor's, Moody's, Fitch, and Capital Intelligence. The Bank has also been the recipient of many awards from leading international specialized financial publications for its innovative products, services and remarkable performance.

QNB has an active community support program and sponsors various social, educational, and sporting events

For further information, please contact
QNB 's Public Relations Department
Tel: (974) 4252477
Fax (974) 4252589
Email: PR@qnb.com.qa
QNB 's website www.qnb.com.qa

© Press Release 2010