- Singapore Gulf Bank has partnered with BNY to offer round-the-clock settlement for qualifying USD payments.
- SGB is among the first financial institutions globally to adopt BNY’s 24/7 USD Book Transfers solution.
Singapore Gulf Bank has expanded its USD payment capabilities through a partnership with BNY. It gives both corporate and retail clients the ability to settle qualifying USD payments at any time, including weekends and U.S. public holidays. The service runs through BNY’s 24/7 USD Book Transfers solution, and SGB is among the first financial institutions globally to adopt it.
In addition, the expansion builds on a relationship that began in April 2026, when SGB joined BNY’s correspondent banking network to strengthen its U.S. dollar clearing capabilities.
What Changes for the Clients?
Until now, cross-border USD payments were constrained by standard U.S. banking hours and settlement windows that don’t account for how global businesses actually operate. A treasury team in the Gulf managing a time-sensitive payment on a Saturday, or a corporate client in Asia needing to fund an account outside New York hours, would have had to wait.
USD transfers can settle at any time between eligible accounts held directly with BNY or with correspondent banks enrolled in the service. The use cases are broad: account funding, payables management, and time-sensitive cross-border treasury transactions across SGB’s client base spanning the Gulf, Asia, and beyond.
Ali Moosa, Executive Vice Chairman of Singapore Gulf Bank, stated:
“Our clients operate across markets and time zones, and their business needs do not always fall within traditional US banking hours. Working with BNY strengthens our payment network and reinforces SGB’s commitment to providing real-time cross-border banking solutions.”
Bana Akkad Azhari, EMEA Head of Global Payments and Trade at BNY, framed it from the institutional side: round-the-clock USD settlement gives banks and their clients greater agility in managing liquidity and meeting urgent financial commitments.
Moreover, BNY, which oversees $62.6 trillion in assets under custody and administration and $2.2 trillion in assets under management as of June 30, 2026, is bringing that infrastructure to SGB’s network.
Besides, Singapore Gulf Bank launched its corporate banking service in late 2024 and introduced SGB Net in May 2025 for real-time, multi-currency settlement. Also, the BNY 24/7 USD capability is the next layer in a deliberate build-out of always-on banking infrastructure.
Furthermore, for a bank positioning itself at the intersection of Gulf finance and global payment rails, removing the time-zone constraint on USD settlement is not a minor feature addition.
Crypto Market Highlights
Pando Finance Adds Solana to Hong Kong’s Growing Spot Crypto ETF Market
