“We are happy to announce that the correspondent banking offering of UBA America to our Financial Institutions customers across Africa has been expanded to include U.S. Dollar clearing.

UBA is the only sub-Saharan African bank with a banking license in the US and the only African bank regulated by the US OCC (Office of Comptroller of Currency). UBA’s presence in the US gives us membership of the U.S. Federal Reserve Clearing system as a result of which, UBA is the only sub-Saharan African bank with the unique ability to clear and settle US Dollar denominated payments without use of an intermediary bank.

At UBA America, we serve Corporates, Sovereigns, Development and Multilateral Institutions and, African banks. We are the US$ bank for African banks, and we have provided correspondent banking services to African banks for more than three decades, through our sophisticated bouquet of products, which include trade finance and treasury solutions.    

UBA America operates in a highly regulated environment and, we place a high premium on compliance with all regulatory provisions, particularly as they relate to BSA/AML/CFT due diligence and sanctions screening.  

To learn more about this product and other correspondent banking services we provide at UBA America, kindly contact our relationship management team at correspondentbanking@ubaamerica.com.”