Tourism Development and Investment Company, TDIC, has been recognised for best practices and innovation at the Treasury Management International, TMI, Awards for Innovation and Excellence 2013, under the category: "Corporate Recognition Award for Technology".
The award was given to TDIC for its optimal use of technology through the creation of the first-of-its-kind innovative paperless payment approval system in the U.A.E., using the organisation's internal electronic platform. This system was created in 2012 in partnership with Abu Dhabi Commercial Bank (ADCB) to streamline the process of submitting remittance instruction payments between the two organisations.
Harish C. S. Pai, Senior Manager of Treasury Operations in TDIC, said, "We are very pleased that our unique system continues to garner such international recognition. We are the only organisation in the Middle East to be presented with this prominent award and one of only two from the Middle East and Asia to be awarded. This award is given after a thorough research is done across corporate treasurers and their banks, with nominated organisations submitting write ups that form a part of the evaluation process." Treasury Management International, published in association with the European Association of Corporate Treasurers (EACT), is a global publication, focusing on the business of treasury and the finance profession, reporting on the latest developments within the banking, treasury technology, and treasury advisory sectors.
The TMI awards are voted for by the publication's readers - treasury and finance professionals. This year, over 1,500 votes were polled from Asia, North America and Europe from TMI's global magazine readership of 8,000 treasury professionals.