On September 16, 2009, ICBC Obtains a qualification certificate issued by SWIFT on the Presentation Ceremony of Worker's Remittance (WR) Qualification Certificates during 2009 Hong Kong SIBOS Annual Meeting as one of the first 12 commercial banks in the world and the first commercial bank in China Region holding WR qualification certificate. It was reported that Standard Chartered Bank and Citibank Group were also on the list of the winners of the certificates on this ceremony.
According to introduction, WR is the latest solution to WR business of financial institutions offered by SWIFT. Through united market criteria, taking advantages of worldwide network and standard of SWIFT, the product offers an efficient and safe technological platform for commercial banks and enhances the efficiency in handling WR business based on Straight through Processing (STP). By far 30 banks globally have applied for WR Qualification Certificates in SWIFT, among them, 12 have obtained the qualification certificates.
Related official of ICBC said, ICBC will build an efficient and safe technological platform for WR business in next step under the assistance of SWIFT, make effort to exploit market resource of WR business and enhance its leading position in foreign exchange liquidation business in order to provide customers with cross-border remittance services of higher quality and more efficiency.
