MANAMA: Singapore Gulf Bank (SGB), a fully licensed bank backed by Whampoa Group and Mumtalakat, announced a strategic banking relationship with Standard Chartered. The collaboration improves SGB’s multi-currency services and payment rails in emerging markets as well as aims to streamline payment flows and reduce friction in cross-border transactions.
This further supports SGB’s digital asset strategy by targeting emerging markets, specifically in ME/Asia corridor, where digital asset adoption is rapidly growing and where Standard Chartered has a strong market presence. As such, clients in these regions will benefit from smoother correspondent banking flows, resulting in faster settlement.
“Reliable, high-speed settlement is a necessity for global businesses, yet emerging markets remain structurally disadvantaged due to complex multi-layered intermediary routing,” said Shawn Chan, Chief Executive Officer of SGB, said. “By partnering with Standard Chartered, SGB is resolving the bottlenecks and providing the modern infrastructure required to power the digital asset economy across these vital corridors.”
“Cross-border payment flows across key growth corridors are accelerating, and the infrastructure supporting them is evolving to match that pace. Standard Chartered’s global network and clearing capabilities enable real-time, transparent settlement where it matters most,” Karine Zakhour, Head of Banks and Broker Dealers (BBD) for the Middle East and Pakistan at Standard Chartered, said.
“In Bahrain, we continue to support clients through robust correspondent banking solutions, underpinned by a strong regulatory environment and a well-established financial ecosystem reinforcing the Kingdom’s position as a stable and well-regulated financial centre for global transactions.”
This announcement is the latest in a series of milestones from SGB. The bank launched its corporate banking service in late 2024 and introduced SGB Net in May 2025 to enable real-time, multi-currency settlement. In November 2025, it announced a partnership with digital asset infrastructure provider Fireblocks to support secure treasury management and digital asset custody and has since launched 24/7 payment capabilities while continuously enhancing its correspondent banking relationships and USD clearing capabilities.
