NBB brings 24/7 USD access to Bahrain
TDT| Manama
People and businesses in Bahrain can now send and receive US dollar payments on any day of the year, including public holidays, under a new initiative launched by the National Bank of Bahrain Group.
In a move that eliminates the traditional limitations of cut-off times and weekend delays, the Group has become the first in the Middle East and Africa to activate the Wire 365 solution from J.P. Morgan Payments. The service ensures continuous availability of cross-border USD clearing and enhances liquidity management across all 365 days.
Regional first
The Wire 365 system caters to financial institutions, corporations, and high-net-worth clients requiring same-day USD disbursements. Transactions are cleared within J.P. Morgan's global payments network, giving clients more control over cash flow and easing the burden of time-sensitive transfers.
'This milestone reflects our strategic focus on incorporating advanced banking technology to offer real value to our institutional clients,' said Ali Abdulkarim, Group Chief Executive – Corporate and Commercial Banking at NBB. 'By unlocking 365-day USD access, we are facilitating real-time cross-border transactions and supporting businesses in a highly connected global environment.'
Enhanced flexibility
Bahrain Islamic Bank's Chief Corporate & Institutional Banking Officer, Aqeel Ghaith, said the move was particularly beneficial for high-value clients who require round-the-clock access to overseas transfers.
J.P. Morgan Payments' Global Head of Cross-Currency and Global Clearing Payments, Gayathri Vasudev, described the rollout as a response to growing global demand for instant, unrestricted financial processing. 'Always-on payment capability is a game-changer,' she said, noting the advantage of weekend processing without disruption.
With Wire 365, NBB Group aims to redefine correspondent banking standards in Bahrain by offering seamless, uninterrupted fund flows. The move underscores the Group's strategy of using innovation to strengthen the country's financial infrastructure.
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