Noor Bank has been named the Domestic Technology and Operations Bank of the Year in the UAE at the Asian Banking and Finance, ABF, Wholesale Banking Awards, 2015. The annual awards are publicised every year by the widely circulated ABF Magazine, headquartered in Singapore.
The award recognises Noor Bank's innovative delivery of Global Transactional Services, GTS, specifically the use of DMCC Tradeflow for online commodity Murabaha settlements related to corporate bank financing transactions. Noor Bank was evaluated on the uniqueness of the project, effectiveness for stakeholders, and flexibility towards progressive opportunities.
Commenting on the award, Ehsaan Ahmed, Head of GTS and Corporate Strategy, Noor Bank, said, "We are pleased to receive this industry recognition from the prestigious Asian Banking and Finance Magazine. 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 is the third in a series of recent award wins for Noor Bank. The bank bagged the Employer of the Year Award at the Higher Colleges of Technology, Dubai Women's College, and was named the most Innovative Islamic Financial Institution by the Global Finance Magazine based in New York.