DBS and BSF spouse to reinforce industry finance and fee flows between Asia and Saudi Arabia
Partnership goals to toughen companies and end-consumers accomplishing industry, investments and remittances around the fast-growing Asia-GCC hall
Singapore, Regional, 16 Oct 2025 – DBS and Banque Saudi Fransi (BSF) – Southeast Asia’s greatest financial institution and a number one monetary establishment in Saudi Arabia respectively – have introduced a strategic partnership to make bigger their industry agreement, financing and regional forex clearing answers. This partnership goals to advertise industry and capital flows around the rising Asia-Gulf Cooperation Council[1] (GCC) financial hall – by way of offering higher toughen for companies and end-consumers looking for to habits industry, investments and remittances.
Financial flows between Asia and GCC countries were expanding over time. As an example, in 2023, industry between Southeast Asia and GCC countries amounted to round USD 130.7 billion (SGD 169.4 billion)[2]. An extra USD 50 billion (SGD 64.8 billion) in new industry flows between each areas is anticipated to be generated by way of 2027[3]. As well as, industry volumes between China and GCC countries are projected to double to USD 1.9 trillion (SGD 2.46 trillion) by way of 2035[4]. Saudi Arabia is anticipated to play a pivotal position within the expansion of the Asia-GCC hall as the most important economic system within the GCC.
This partnership was once formalised with a memorandum of working out signed on the sidelines of Sibos, an international monetary services and products convention organised by way of Swift – the arena’s main supplier of protected monetary messaging services and products.
DBS and BSF introduced a strategic partnership at Sibos to make bigger their industry agreement, financing and regional forex clearing answers.(Left to Proper) Sriram Muthukrishnan, Crew Head of International Transaction Products and services Product Control, DBS; Simon Ong, Crew Head of Monetary Establishments and Executive-Related Corporates, DBS; Faisal Darwish, Head of Institutional Banking, BSF; Badr Alnowaisser, Head of Monetary Establishments, BSF.
Assembly rising call for for Asia-GCC industry and bills
To lend a hand companies seize industry alternatives extra successfully throughout each areas, DBS and BSF will discover leveraging every different’s distinctive strengths and networks by way of offering industry financing answers to one another’s shoppers. Those answers come with letters of credit score, bankers’ promises and industry loans. As well as, each banks will discover collectively financing shopper transactions to raised set up possibility and make bigger their respective financing capacities.
To fulfill the rising call for for seamless cross-border bills, each banks will discover utilising every different’s clearing networks for native and regional forex clearing. This comprises DBS’ get entry to to seven of Asia’s greatest forex clearing corridors[5] and BSF’s get entry to to Saudi Riyal clearing services and products.
As well as, BSF will discover the usage of DBS GlobeSend to allow its shoppers to make same-day cross-border bills throughout DBS’ world payout community of over 1 billion accounts and virtual wallets. DBS GlobeSend is a cross-border fee answer that permits banks and non-bank monetary establishments to make cost-effective, immediate and clear bills, overlaying 60 currencies throughout over 100 markets.
Sriram Muthukrishnan, Crew Head of International Transaction Products and services Product Control, DBS, mentioned: “Asia and the Middle East are growing increasingly interconnected as businesses, investors and talent pursue opportunities in these dynamic markets. Our partnership with BSF builds upon DBS’ connectivity across Asia and our track record in providing secure and efficient access to trade financing and cross-border payments. This aims to facilitate the seamless flow of goods, services and capital across this corridor – ultimately benefitting businesses, end-consumers and communities.”
Faisal Darwish, Head of Institutional Banking, BSF, said: “At Banque Saudi Fransi, we see this partnership with DBS as a significant step in strengthening financial connectivity between the GCC and Asia. By combining our networks and expertise, we aim to deliver innovative solutions in trade financing and cross-border payments. This collaboration will open new opportunities for businesses and consumers alike, while reinforcing Saudi Arabia’s role in driving growth across this dynamic economic corridor.”
All exchange rates as of 15 October 2025
[1] Consisting of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates[2] ‘1+1+1 greater than 3’: At historic first summit, ASEAN, China and Gulf bloc pledge new global cooperation model (Channel News Asia)[3] Why ASEAN must transform global tensions into regional opportunities (World Economic Forum)[4] Saudi Arabia and China deepen trade ties as non-oil sectors thrive (The Banker)[5] Covering the following markets: Singapore, China, Hong Kong, Taiwan, India, Indonesia, Vietnam
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About DBSDBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank’s “AA-” and “Aa1” credit score scores are a few of the best possible on this planet.
Recognised for its world management, DBS has been named “World’s Best Bank” by way of International Finance, “World’s Best Bank” by way of Euromoney and “Global Bank of the Year” by way of The Banker. The financial institution is at the vanguard of leveraging virtual era to form the way forward for banking, having been named “World’s Best Digital Bank” by way of Euromoney and the arena’s “Most Innovative in Digital Banking” by way of The Banker. As well as, DBS has been accorded the “Most secure Financial institution in Asia“ award by way of International Finance for 17 consecutive years from 2009 to 2025.
DBS supplies a complete vary of services and products in shopper, SME and company banking. As a financial institution born and bred in Asia, DBS understands the intricacies of doing industry within the area’s maximum dynamic markets.
DBS is dedicated to development lasting relationships with shoppers, because it banks the Asian means. Throughout the DBS Basis, the financial institution creates have an effect on past banking by way of uplifting lives and livelihoods of the ones in want. It supplies very important must the underprivileged, and fosters inclusion by way of equipping the underserved with monetary and virtual literacy talents. It additionally nurtures leading edge social enterprises that create certain have an effect on.
With its intensive community of operations in Asia and emphasis on enticing and empowering its personnel, DBS items thrilling occupation alternatives. For more info, please consult with www.dbs.com.
About BSFBanque Saudi Fransi (BSF), a Joint Inventory Corporate established by way of Royal Decree No. M/23 dated June 1977, is likely one of the main banks in Saudi Arabia. It has its head administrative center in Riyadh and regional places of work in Jeddah, Al-Riyadh and Al-Khobar. Via its 85 branches/self-service facilities, 520 ATMs and over 28,000 issues of sale, BSF is dedicated to offering leading edge and very good services and products to its shoppers. BSF provides quite a lot of monetary services and products in Company Banking and Retail Banking. The Financial institution additionally supplies funding banking, asset control and funding finances services and products, along with brokerage services and products via BSF Capital. BSF’s primary center of attention is to offer a brand new same old in visitor enjoy that sticks out for its simplicity and transparency additional empowering its shoppers whilst providing them customized recommendation. BSF’s industry type is customer-oriented, with the objective of being a pace-setter in visitor delight on a countrywide and regional stage.
