QIIB announced the launch of its digital platform for issuing documentary credits by customers without the need to visit the bank, as the first bank in Qatar to launch this service. The platform is distinguished by providing high standards that combine efficiency, accuracy and security, and provides companies with the necessary tools to handle trade finance transactions smoothly, which improves productivity and competitiveness.
The platform also provides customers with the exceptional advantage of being available 24 hours a day, 7 days a week, so the customer can register his request to issue documentary letters of credit at any time and from anywhere, and this will undoubtedly contribute to speeding up the completion of transactions in a qualitative manner.
By launching the digital platform for documentary credits, QIIB was keen to raise standards related to verification and compliance with the correct standards in letters of credit, especially regulatory compliance, as the platform ensures automated checks to ensure that submitted applications meet international trade regulations and banking systems.
Commenting on the launch of the platform, Mr. Muhammad Khair Barhouma, Head of Operations at QIIB, said: “We are pleased to be the first to launch the digital platform for accreditation applications and to be the first bank in Qatar to implement this service, which constitutes a qualitative addition to our services and enhances the flexibility with which we manage It also enhances the operational efficiency that characterizes QIIB.”
He added: “We have made sure that the steps for applying for documentary credit applications are simplified and centralized, as all activities related to letters – submission, tracking, amendments and approvals – are processed in one platform, with great ease in controlling the tools provided by the platform, which makes even non-experts able to use them easily.” ».
Barhouma explained that “the platform reduces administrative expenses for the client and allows him to receive updates about his request in real time, while ensuring complete transparency that includes tracking the status of documentary credit requests, amendments and approvals in real time, with the option of alerts and notifications available.”
The head of the operations sector at QIIB stressed that “the bank was keen to provide the highest standards of data security in the digital platform for documentary credits, and these are standards that we have always been keen to have available with regard to all data at QIIB.”
Finally, he called on QIIB customers to take advantage of this platform dedicated to them, which will be available to all corporate customers via corporate internet banking.
