The Singapore Gulf Bank also implemented Wire 365, enabling USD clearing 365 days a year.
The Singapore Gulf Bank (SGB) has strengthened its relationship with J.P. Morgan by opening a correspondent banking account, providing direct access to a USD clearing network.
SGB said the move enhances its ability to deliver cross-border payment services and strengthens its broader correspondent bank and payment systems coverage, which includes its proprietary real-time settlement network, SGB Net.
It is also one of the first digital banks in the MENA region to implement J.P. Morgan Payments’ Wire 365 solution. The service enables USD clearing 365 days a year, allowing SGB to receive and credit incoming funds over weekends and public holidays.
Ali Moosa, Executive Vice Chairman of SGB, said: “Joining J.P. Morgan’s global network allows us to offer clients a convenient route for USD clearing, and ensures that their capital moves with the speed, certainty, and security required in today’s global economy.”
Nawaf Humood, Executive Director, Financial Institution Group Sales at J.P. Morgan Payments, said: “This collaboration highlights SGB’s expanding position as a leading digital bank in the market and underscores the Kingdom of Bahrain’s commitment to supporting Innovation.”
The collaboration was formalised at a signing ceremony at SGB’s headquarters in Bahrain. SGB also referenced recent milestones, including the launch of its corporate banking service in late 2024 and the introduction of SGB Net in May 2025.
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