NBB brings 24/7 USD access to Bahrain
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.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Tribune
an hour ago
- Daily Tribune
Bahrain Leaders Commend India
TDT | Manama Email : editor@ Bahrain's top parliamentary leaders extended warm congratulations to India on its 79th Independence Day, underscoring the strength of bilateral relations and pointing to new avenues of cooperation. Shura Council Chairman H.E. Ali bin Saleh Al Saleh and Speaker of the Council of Representatives H.E. Ahmed bin Salman Al-Musallam both sent congratulatory cables to India's Ambassador to Bahrain, H.E. Vinod Kurian Jacob, marking the occasion with formal messages of goodwill. Parliamentary cooperation In his responses, H.E. Ambassador Jacob expressed gratitude for the greetings and called for continued guidance in strengthening bilateral relations. He highlighted parliamentary cooperation as a vital area for growth between the two countries. H.E. the ambassador also noted a practical step forward, reporting that India had launched an electronic visa system for Bahraini nationals in July 2025, further easing people-to-people links. Milestone ahead The embassy further pointed out that India and Bahrain will complete 55 years of diplomatic relations in October 2026, an anniversary expected to provide fresh momentum to the longstanding partnership. The exchange of greetings, combined with the focus on parliamentary links and new visa access, underscores the steady evolution of India-Bahrain ties beyond ceremony into actionable cooperation.
Daily Tribune
21 hours ago
- Daily Tribune
Hajj package prices to soar 20% as new tent rules drive up costs
TDT | Manama Bahraini pilgrims who hoped for more affordable Hajj packages are instead confronting a steep price shock, as campaigns confirmed that 2026 packages will cost up to 20 percent more. The increase comes after last year's unexpected losses, with organisers citing higher operational expenses, particularly new requirements for tents in Arafat and Mina. Rising costs The reversal from earlier savings hopes to rising costs is striking. Campaign operators, who declined to be named, said expenses linked to new service standards had forced them to increase prices by BD200 to BD250. The adjustment translates into a 15 to 20 percent rise across most packages. A source added that the hikes are seen as necessary to prevent a repeat of last year's financial setbacks. Regulatory spotlight The Ministry of Justice, Islamic Affairs, and Endowments has already received 67 applications from Bahraini campaigns seeking approval to operate next season. A meeting between the operators and the Supreme Committee for Hajj and Umrah Affairs is expected in the coming weeks to review preparations. Dr. Ali Ameen Al-Rayyes, Director of Religious Affairs at the Ministry and Deputy Head of Bahrain's Hajj Mission, confirmed that new regulations will soon take effect. The rules will prevent campaigns from advertising packages or prices until they receive official approval. Transparency push Campaigns may still hold promotional exhibitions, but only if their content exactly matches the ministry-approved profile published online. Al-Rayyes stressed that the changes aim to build trust by ensuring pilgrims receive accurate and reliable information. The regulations will also prohibit free Hajj offers or competitions that promise packages, closing the door on misleading promotions. For pilgrims, the season ahead will bring clearer safeguards and stricter oversight, but it will also place a heavier burden on families already budgeting carefully for the spiritual journey of a lifetime.
Daily Tribune
21 hours ago
- Daily Tribune
Fifth Minor Criminal Court Acquits Asian Employee of Embezzlement Charges
TDT | Manama The Fifth Minor Criminal Court has acquitted a woman in her forties, an Asian employee, of charges of embezzling funds from a company managing a chain of restaurants. The defendant was represented by lawyer Reem Al-Mahari, who argued that the case was maliciously filed by the company, which accused the employee of misappropriating company funds. Al-Mahari explained that her client worked in an administrative role, which included receiving checks to cover routine expenses such as workers' and employees' payments, transfers to the Labour Market Regulatory Authority, social insurance contributions, and petty cash. She submitted evidence showing that the funds in question had indeed been transferred to the relevant authorities. She also presented a labor court judgment indicating an unresolved dispute in which the company had withheld the employee's labor rights. The Public Prosecution had charged the defendant with embezzling BD 1,420 between 2023 and 2024, in Muharraq Governorate, alleging she misappropriated cash belonging to the company that was under her custody by virtue of her job. The accusation was based on an accounting report submitted by the complainant, in addition to his statements. However, the court ruled that the evidence presented was insufficient to prove the charges. It noted that the case documents lacked reliable proof linking the defendant to the alleged crime, and that the accounting report did not conclusively establish embezzlement. The expert's findings only confirmed that the defendant had issued seven checks totaling BD 1,420, without proving any wrongdoing. The court further observed that the existence of labor disputes between the defendant and the complainant company added weight to the possibility of malicious intent behind the case. Based on Article 255 of the Criminal Procedure Law No. 46 of 2002, the court concluded that the charges were unsubstantiated and ruled to acquit the defendant.
