NBB partners with Citi to offer 24/7 dollar clearing service
MANAMA, 8 hours, 1 minutes ago
The National Bank of Bahrain (NBB) has become the first bank in Bahrain to offer its customers 24/7 US dollar clearing for both incoming and outgoing payments.
The innovative service, developed in partnership with Citi, streamlines the processing of USD transactions, allowing NBB’s corporate and retail clients to send and receive US dollar funds at any day and time.
NBB’s implementation of 24/7 USD clearing for incoming and outgoing payments provides its customers with superior agility in managing their cross-border financial operations.
This service eliminates the constraints of traditional business hours and time zone differences to ensure faster access to USD funds and improved cash flow management.
The bank remains committed to continuously enriching its services with best-in-class financial solutions to deliver unparalleled customer experience.
On the occasion, Ali Abdulkarim, Group Head of Corporate & 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," he stated.
For his part, Emre Umut, TTS Head of Financial Institutions Sales MEA at Citi, said: "We are very proud of our long-term relationship with NBB, one of the leading financial institutions in Bahrain. Our collaboration with NBB, exemplifies the way Citi has continued to support the business activities and growth ambitions of clients in Bahrain."
"Our 24/7 USD Clearing service is a differentiator enabling our clients to serve consumers who demand instant payment capabilities in a faster, efficient and more transparent manner across the world," he added.-TradeArabia News Service
