Citi and Arab Bank partner to offer 24/7 US dollar payments
Citi and Arab Bank have announced a collaboration to provide Arab Bank’s corporate clients with access to Citi’s 24/7 US dollar (USD) Clearing solution, enabling incoming and outgoing cross-border payments around the clock through selected Arab Bank branches.
The agreement aims to support faster, more accessible international payments by combining Citi’s global clearing network with Arab Bank’s regional presence. The service is designed to help businesses manage cross-border transactions more efficiently while maintaining compliance with applicable local and international regulations.
The collaboration builds on an existing relationship between the two institutions covering USD clearing, liquidity management, and trade and working capital solutions across multiple Arab Bank entities and markets.
Partnership expands access to round-the-clock payments
Through the arrangement, Arab Bank will use Citi’s 24/7 USD Clearing capabilities to facilitate cross-border payments for corporate customers. The service is intended to support businesses operating across markets with different time zones and banking schedules.
Arab Bank’s network and subsidiaries operate in financial centres including Dubai, Singapore, London, Paris and Manama. Combined with Citi’s global reach, the arrangement is intended to improve connectivity for corporate customers making international payments.
The partnership also reflects the growing importance of continuous payment services as global trade expands and businesses increasingly rely on digital financial operations.
Citi highlights demand for always-on payment services
Emre Umut, Middle East and Africa Head of Financial Institutions Sales at Citi, said speed, transparency and innovation were becoming increasingly important for companies and financial institutions as international trade corridors expanded and operations became more digital.
He said combining Citi’s global 24/7 USD Clearing capabilities with Arab Bank’s regional expertise would support a more connected client experience and help facilitate international commerce.
Citi said the collaboration forms part of its wider efforts to provide real-time payment and settlement services that support the movement of money, liquidity and securities across borders.
Arab Bank focuses on international banking capabilities
Maram Al-Jazireh, Global Head of Financial Institutions and Sustainability at Arab Bank, said customer needs and long-standing relationships remained central to the bank’s initiatives.
She said the collaboration with Citi would expand corporate customers’ access to international payment capabilities and support their changing business requirements across global markets.
For Arab Bank, the service represents an additional step in developing payment solutions for companies operating across multiple jurisdictions.
Citi clearing network spans more than 50 markets
According to Citi, its 24/7 USD Clearing service is live with more than 300 financial institutions across over 50 markets and is connected to more than 290 major clearing systems worldwide.
The service is intended to help financial institutions maintain payment continuity across different operating hours and weekend schedules, supporting connectivity with international markets.
The partnership between Citi and Arab Bank adds to efforts by financial institutions in the Middle East to improve cross-border payment efficiency and provide corporate customers with greater flexibility when managing international transactions.
