SINGAPORE, 16 October 2025 – DBS, the largest bank in Southeast Asia, and Riyadh-based Banque Saudi Fransi (BSF) are partnering to accelerate trade finance across the Asia-Gulf Cooperation Council (GCC) economic corridor.
The two parties signed the Memorandum of Understanding (MoU) during the Sibos financial services conference. The strategic partnership will enhance trade and capital flows between the regions through the provision of support in trade, remittances, and investments, for businesses and end-consumers.
DBS and BSF will benefit from each other’s expertise and networks to offer trade financing solutions. This includes bankers’ guarantees, letters of credit, and trade loans. In efforts to strengthen risk mitigation, the two banks will also look into joint financing arrangements for client transactions.
Sriram Muthukrishnan, Group Head of Global Transaction Services Product Management, DBS, said, “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.”
In addition, DBS and BSF will leverage on each other’s clearing networks for regional and local currency clearing to facilitate seamless cross-border payments. This covers DBS’ access to currency clearing markets in Singapore, China, Hong Kong, Taiwan, Vietnam, India, and Indonesia, as well as BSF’s access to Saudi Riyal clearing services.
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.”
Trade flows between Southeast Asia and GCC nations recorded at approximately US$130.7 billion in 2023. A total of US$50 billion in new trade flows is projected to be added by 2027.
Source: DBS
