Commercial Bank’s Transaction Banking Department has been awarded the exclusive cash management mandate for Northwestern University in Qatar (NU-Q) following a competitive tender process with other Qatari banks.
Commercial Bank Group CEO Joseph Abraham said: “Commercial Bank’s Wholesale Banking Department is delivering technology-based innovative new services to customers that not only improve the client experience but they enhance their business operations too.”
Commercial Bank EGM, Head of Wholesale Banking, Raju Buddhiraju said: “Commercial Bank is a market leader for cash management in Qatar and we are delighted to have won this prestigious mandate based on the bank’s experience and capability in cash management.
“We look forward to providing Northwestern University in Qatar with our award-winning technology platform and services, including corporate Internet banking, corporate credit cards, a sweep facility to pool funds and improve returns, and cash and cheque pick up facilities.”
In recognition of its market-leading position across a wide range of banking services, Commercial Bank has won numerous awards that underline its 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.
Commercial Bank won the ‘Best Cash Management Bank in Qatar’ award at The Asian Banker Middle East & Africa Transaction Banking Awards in 2016, adding to the same national award in 2014.
The 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 a 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.