Jordan Kuwait Bank Receives the Best Straight-Through Processing (STP) Rate Award for 2023

Jul 1, 2024

Jordan Kuwait Bank has received the award for the Best Straight-Through Processing (STP) Rate for 2023 from Citibank. This recognition highlights the exceptional quality of the bank's services, particularly in remittances and international payments. It also showcases the bank's ability to process payments promptly, securely, and with minimal errors.

During a ceremony held in celebration of this award, Haethum Buttikhi, CEO of Jordan Kuwait Bank, expressed his gratitude to the employees of the Commercial Services Department along with the Treasury and International Relations Department for their contributions, which have added to the bank's record of success. This award reflects the efficiency and dedication of the bank's staff. The appreciation ceremony was attended by Daoud Issa, Chief Operating & Support Officer, and Ibrahim Bisha, Head of Treasury and International Relations.

The STP award is given annually to banks that demonstrate high accuracy in their international remittances, recognizing their adherence to the technical requirements for automated transfer operations. The bank achieved a 100% correct transfer rate, underscoring the customers' trust in the bank's ability to execute their US dollar transfers quickly, accurately, and at minimal cost and risk.