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 Mr. Karim Sinno, Executive Director, Financial Institutions, and Mr.  Mohammed A. Al Dakheel, Client Service Account Manager at JPMorgan Chase Bank. Receiving the award on behalf of Bank Sohar were Mr. Saif Al Harthi, AGM of Central Operations and Ms. 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 Mr. Khalfan Rashid Al Taley, DGM and Head of Operations at Bank Sohar.
On receiving the award Mr. 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.”
This award marks the third recognition the Bank has received in 2016, having earlier won the ‘Best Customer Service – Oman’ Award and the ‘Best Call Centre – Oman’ Award from UAE-based CPI Financial. The Bank has received 16 local, regional and international acknowledgements in year 2015 comprising of the ‘Best Financial Brand Oman’ by UK-based Global Brands Magazine (GBM), “International Diamond Prize for Excellence in Quality 2015” Award from European Society for Quality Research (ESQR), ‘Best Customer Service Bank Oman 2015’ and ‘Best CSR Bank Oman 2015’ from UK-based International Finance Magazine (IFM), ‘Best Bank for Social Media Oman 2015’ from Global Banking & Finance Review, ‘Bank of the Year for Growth – Middle East’ Award from IAIR, ‘Excellence & Quality Award’ in Corporate Governance from UAE-based Tatweej Academy, ‘Finacle Client Innovation Award 2015’ from Infosys-Finacle, ‘Peak of Success Trophy’ for Business Excellence from Texas-based World Confederation of Businesses (WORLDCOB), ‘Best Banking Performance’ Award at the fourth edition of the Al Roya Economic Award, ‘Golden Order of Merit in the field of CSR’ Award from UAE based Excellence Awards Academy, ‘Best Straight Through Processing’ (STP) banks in Oman by Standard Chartered Bank, and the ‘Best Enterprise Award’ in the fields of quality and management from the Europe Business Assembly based in the UK. The Bank was also named the ‘Best Straight Through Processing’ (STP) banks in Oman award along with receiving the ‘Trade Award 2014’ from Frankfurt-based Commerzbank AG and was also recognised as one of the ‘Top 5 Large Corporate Enterprises’ within the Sultanate, ranking second under ‘Top Large Corporate Enterprise’ and on the first level as a bank, at the Alam Al Iktisad Wal Amaal (AIWA) Awards in 2015.