The National Bank of Bahrain first bank to offer 24/7 US dollar clearing services
This service will be developed in collaboration with Citi bank
Dubai: The National Bank of Bahrain (NBB) becomes the first bank in the country to offer 24/7 US dollar clearing for incoming and outgoing payments.
This service, developed in collaboration with Citi, simplifies the processing of US dollar transactions, enabling NBB’s corporate and retail clients to send and receive US dollar funds anytime.
By implementing 24/7 US dollar clearing, NBB enhances its customers' ability to manage cross-border financial operations with greater flexibility.
This service removes the limitations of traditional business hours and time zone differences, ensuring quicker access to US dollars funds and improved cash flow management.
Ali Abdul Karim, group head of corporate and commercial banking at NBB said: "We are pleased to be partnering with Citi to provide this service, which underscores our unwavering focus on delivering industry-leading solutions that empower our customers."
"The enhanced service streamlines cross-border transactions, granting our clients unparalleled efficiency and flexibility in managing their USD inflows and outflows– a significant advantage in today’s fast-paced global marketplace," as reported by Bahraini news agency News of Bahrain.