Citi has continued to enhance its payments capabilities across the Middle East, focusing on faster settlement, greater connectivity and the digitalisation of financial processes. Its recent developments reflect a broader effort to simplify cross-border transactions and help businesses manage increasingly complex payment requirements.
A central development has been the deployment of Citi 24/7 Clearing, the bank’s always-on US dollar wire clearing service, across major Middle Eastern financial institutions. The solution enables near-instant dollar transactions across regional branch networks, improving the movement of funds between institutions and supporting more efficient liquidity management.
Citi has adapted the service to the region’s operating requirements, offering settlement options that accommodate US public holidays and Middle Eastern working schedules, including Sundays.
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