Citi and Arab Bank partner for 24/7 USD clearing services

Citi and Arab Bank have announced a joint collaboration to provide 24/7 US dollar clearing solutions for Arab Bank’s corporate clients. This partnership aims to support the flow of incoming and outgoing USD payments, facilitating smoother, faster, and more secure cross-border transactions during remittance system operating hours.

The initiative expands upon an existing broader cooperation between the two institutions, which includes liquidity management, trade solutions, and working capital services across various markets. By linking Citi’s global network with Arab Bank’s regional presence in key financial hubs—including Dubai, Singapore, London, Paris, and Manama—corporate clients will gain access to extensive USD payment networks while ensuring compliance with local and international regulations.

Emre Omut, Citi’s Head of Financial Institutions Sales for the Middle East and Africa, noted that as global trade corridors expand and operations become increasingly digitized, speed, transparency, and innovation are becoming critical factors for both companies and financial institutions.