(16 Oct 2025 – Singapore) DBS and Banque Saudi Fransi (BSF) – Southeast Asia’s largest bank and a leading financial institution in Saudi Arabia respectively – have announced a strategic partnership to expand their trade settlement, financing and regional currency clearing solutions. This partnership aims to promote trade and capital flows across the growing Asia-Gulf Cooperation Council[1] (GCC) economic corridor – by providing greater support for businesses and end-consumers seeking to conduct trade, investments and remittances.
Economic flows between Asia and GCC nations have been increasing over the years. For instance, in 2023, trade between Southeast Asia and GCC nations amounted to around USD 130.7 billion (SGD 169.4 billion)[2]. An additional USD 50 billion (SGD 64.8 billion) in new trade flows between both regions is expected to be generated by 2027[3]. In addition, trade volumes between China and GCC nations are projected to double to USD 1.9 trillion (SGD 2.46 trillion) by 2035[4]. Saudi Arabia is expected to play a pivotal role in the growth of the Asia-GCC corridor as the largest economy in the GCC.
This partnership was formalised with a memorandum of understanding signed at the sidelines of Sibos, a global financial services conference organised by Swift – the world’s leading provider of secure financial messaging services.