VOL. XLVI

No 36

08-September-2003

BAHRAIN

REGIONAL BANKING

ABC Selects HSBC In Key Foreign Exchange Arena

Bahrains Arab Banking Corporation (ABC) announced on 26 August that it had selected HSBC as settlement bank for its foreign exchange (forex) Continuous Linked Settlement (CLS) trades. CLS is an initiative to reduce risk caused by time differences in the settlement of forex trades and is designed to streamline payment processing and give members more efficient use of capital and liquidity in...