CitiBank launched a 24/7 USD clearing service in the region in collaboration with Emirates NBD, according to a statement. Emirates NBD will be the first bank to onboard the new clearing service, which facilitates cross-border USD payments for its corporate and retail customers every day of the week. The service can be used to handle both commercial and treasury payments.

Emirates NBD will first roll out Citi’s clearing service to its clients in the UAE and Saudi Arabia, seeking to mitigate payment flow barriers in the region caused by varying weekend schedules and early afternoon cut-off times, the statement reads. The bank plans to later roll out the 24/7 service throughout all of Emirates NBD’s branches regionally and globally, including the bank’s third party affiliates.

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