Posted on December 03, 2017

Commercial Bank, Qatar’s first private bank, is proud to announce it has won the “Best Cash Management Bank in Qatar” award at The Asian Banker Middle East & Africa Transaction Banking Awards 2017, adding to the same national award in 2016.

The Asian Banker Transaction Banking Awards is the most rigorous, prestigious and transparent annual awards programme recognising leadership in the cash management, trade finance and payments industries amongst international financial institutions in Asia Pacific, the Middle East and Africa. Judged by an international board of advisors, applicants were subject to a stringent assessment process.

Commercial Bank’s excellence 2 [].jpgCommercial Bank Group CEO Joseph Abraham said: “Receiving this prestigious award for two years in a row is testament to providing the latest and most competitive cash management products on the market, together with the high quality of service from our cash management department. Commercial Bank’s strategy is to continually invest in innovative technology for the best client experience, and our cash management and transaction banking proposition for corporate customers has gone from strength-to-strength with recent enhancements to our Corporate Trade Portal and Trade Finance Processing Systems.”

Commercial Bank EGM, Head of Wholesale Banking Raju Buddhiraju said: “Commercial Bank are the market leaders for cash management in Qatar, and we are delighted to receive independent recognition by winning this award. Commercial Bank provides our corporate customers with industry-leading digital solutions and services that are cost effective, simple, secure, and help to support their business objectives.” Commercial Bank’s Transaction Banking Department has built strong relationships with Qatari corporates. In 2017, Commercial Bank became the first bank in Qatar to offer Direct Debit to any utility company (Qatar Cool) for online bill payments, and the first bank in Qatar to offer a bulk bill payment service to Ooredoo. The Bank has also introduced a Remote Cheque Deposit solution for the corporates for faster cheque processing and collection.

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The award for “Best Cash Management Bank in Qatar” in 2017 adds to a number of recent accolades that  underline Commercial Bank’s strategic objectives of creativity, innovation, and providing the best client experience. Commercial Bank was awarded the “Best Retail Bank in Qatar”, and named the “SME Bank of the Year in the Middle East” for 2017 by The Asian Banker based on its specialised banking services for small and medium enterprise business customers.