Noor Bank announced on Wednesday that it has been awarded the Domestic Technology and Operations Bank of the Year in the United Arab Emirates (UAE).
The award signifies that the bank has been innovative in the delivery of its Global Transactional Services (GTS) and its use of Dubai Multi Commodities Center (DMCC) Tradeflow in order to facilitate Murabaha settlements made online in relation to corporate banking transactions.
“We are pleased to receive this industry recognition from the prestigious Asian Banking and Finance Magazine," Head of GTS and Corporate Strategy for Noor Bank Ehsaan Ahmed said. "The award reinforces Noor Bank’s leading position in the UAE’s wholesale banking space, particularly in delivering GTS solutions that are innovative, value-added and convenient for our clients.”
This award was presented by the Asian Banking and Finance (ABF) Wholesale Banking Awards. Award winners are publicized in the Singapore-based publication on an annual basis. The publication states that it was the uniqueness of the bank's operations in this area that allowed efficacy among shareholders and flexibility toward opportunities.
The bank reports that this award is the latest among a series of awards that the bank has received including the Innovative Islamic Financial Institution awarded by Global Finance Magazine and the Employer of the Year Award from the Higher Colleges of Technology and the Dubai Women's College.