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Marrakech – Chaabi International Bank Offshore (CIBO), a subsidiary of the Banque Centrale Populaire (BCP) Group, has received the Straight Through Processing (STP) Excellence Award 2024 from Citi Bank.
The award recognizes CIBO’s performance in automated payment processing.
The offshore bank achieved a 100% rate for treasury payments and 99.8% for commercial payments. According to the Banque Populaire, these figures show the operational standards CIBO maintains in managing international transactions.
The prestigious recognition comes for the bank’s cross-border payment processing. It also reflects the quality of procedures implemented by the BCP subsidiary.
“This distinction reaffirms CIB Offshore’s commitment to providing clients and partners with smooth and secure service aligned with the most demanding international standards,” states the Banque Populaire in its announcement.
The bank places operational excellence, digital innovation, and service quality at the core of its strategy, according to the communication.
Founded in 2005, Chaabi International Bank supports companies established in Morocco’s industrial acceleration zones and Moroccan businesses expanding internationally.
The bank also serves as a primary lender and banking correspondent for various BCP Group subsidiaries operating in about twenty African countries.
The award acknowledges CIBO’s internal processes and the effectiveness of its information systems for managing international financial flows, as reported in the statement.
This recognition is part of a broader strategic approach by the BCP Group to enhance service quality and integrate best international banking practices.
Through this achievement, CIBO strengthens its position as a trusted partner for its clients and international correspondents.
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