The National Bank of Bahrain (NBB) has made history as the first bank in Bahrain to provide customers with 24/7 US dollar clearing for both incoming and outgoing payments. This cutting-edge service, created in collaboration with Citi, enhances the processing of USD transactions, enabling NBB’s corporate and retail clients to send and receive US dollar funds anytime.
With this new capability, NBB allows its customers greater flexibility in managing their cross-border financial activities. The service overcomes the limitations of conventional business hours and time zone challenges, ensuring quicker access to USD funds and better cash flow management. The bank is dedicated to continually enhancing its offerings with top-tier financial solutions to ensure an exceptional customer experience.
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.”
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.”