Singapore Gulf Bank gains access to J.P. Morgan’s USD clearing network

The bank can receive and credit clients’ incoming funds over weekends and holidays.

Singapore Gulf Bank (SGB) has opened a corresponding banking account with J.P. Morgan, giving it access to the US bank’s USD clearing network.

SGC can now receive and credit clients’ incoming funds over weekends and public holidays.

This reportedly enhances SGB’s ability to deliver “seamless, secure, and efficient cross-border payment services” to its clients, according to a press release. With this, SGB can enable USD clearing 365 days a year, or near real-time access to cross-border payments.

SGB is a fully licensed digital bank owned by Singaporean investment holding company Whampoa Group and Mumtalakat, Bahrain’s sovereign wealth fund. It is licensed by the Central Bank of Bahrain.