BMI Bank, a leading Bahraini retail and commercial banking institution, has been awarded the prestigious J P Morgan Chase - Straight Through Processing (STP) Award for 2011.

The 'best in class' award in recognition of a bank's superior quality and consistent high performance in the area of international money transmissions, was presented to Eyad Sater, general manager – support services at BMI Bank by Ali Moosa, Managing director and senior country officer at J P Morgan Chase at a ceremony held at the bank’s Bahrain WTC branch.

“I am delighted to receive this award from our peers that recognizes our excellent STP rate of over 99 per cent achieved in the diligent processing of payments,” said Sater.

“At BMI Bank, the importance of a smooth and error free STP system is integrated within our day to day operations to help enhance efficiency, reduce costs as well as to ensure the timely execution of payments.

“This award reinforces our ongoing initiative of investing in our talents within the bank as we continue to build a stronger retail and commercial banking business,” he added while thanking J P Morgan Chase Bank for the honour. – TradeArabia News Service