Singapore Gulf Bank adopts BNY’s 24/7 USD Book Transfers to expand round-the-clock cross-border payments

Singapore Gulf Bank said it is among the first financial institutions globally to adopt BNY's 24/7 USD Book Transfers, letting corporate and retail clients settle qualifying USD payments at any time between eligible accounts held with BNY or enrolled correspondent banks, bypassing US banking hours, weekends and holidays. Ali Moosa, SGB's Executive Vice Chairman, said clients operate across time zones. BNY's Bana Akkad Azhari said round-the-clock settlement gives institutions greater liquidity agility. SGB is backed by Whampoa Group and Bahrain's Mumtalakat and regulated by the Central Bank of Bahrain.

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