Singapore Gulf Bank (SGB), a fully licensed digital bank backed by Bahrain’s Mumtalakat and Singapore’s Whampoa Group, has announced the appointment of Dr. Xiang Bing as an independent director. Accordingly, the move strengthens SGB’s leadership as it positions itself as a financial bridge between Asia and the Middle East North Africa (MENA) region.
Dr. Xiang, founding dean of Cheung Kong Graduate School of Business (CKGSB), brings a wealth of expertise in Asian business and global markets. CKGSB is among Asia’s leading business schools, known for its international faculty and alumni that include notable figures like Jack Ma, founder of Alibaba Group.
Strategic Leadership for a Digital Banking Vision
Notably, the addition of Dr. Xiang to the board aligns with SGB’s mission to integrate traditional and digital financial services. “Dr. Xiang’s deep understanding of Asian business and his global perspective make him an ideal addition to our board,” said Edmund Lee, founding chairman of SGB’s board.
Dr. Xiang expressed his enthusiasm for the role: “The growing opportunities from Asian and Middle Eastern markets represent an extraordinary moment for financial innovation. I look forward to contributing to SGB’s mission to strengthen connectivity between these dynamic regions.”
SGB’s board now includes other prominent figures such as Shaikh Salman Bin Isa Al-Khalifa, former deputy governor of the Central Bank of Bahrain, and Ali Moosa, a former senior executive at JPMorgan.
Bridging Financial Ecosystems
SGB has recently launched corporate banking services and is set to introduce retail banking in Q1 2025. The bank aims to empower global clients with seamless financial integration, allowing users to manage digital assets alongside traditional financial services.
Key initiatives include:
- Round-the-clock settlement capabilities.
- Cross-border payment services to enhance financial accessibility.
- A compliance-first approach to ensure trust and security.
These offerings aim to connect Asia’s burgeoning financial markets with the digital economy in the MENA region. Notedly, the SGB is Bahrain’s first fully licensed digital bank, designed to support the digital economy by offering frictionless movement between traditional and digital finance. It serves as a critical link for investors and innovators in Asia and the Middle East.
For more information, visit www.sgb.com.