Bank A resides in a country where banks are open for business and
Bank B resides in a country where it is either a weekend or a holiday, could
Bank A still initiate a SWIFT transaction to send money to
No. You can initiate SWIFT payments from Bank A, whenever Bank A is open for business. The transaction takes around 2-5 days for it to complete depending on the currency pair and countries involved. Once you initiate the payment, the Bank A sends it to SWIFT Network which in turn send it to Bank B. Whenever Bank B is open for business it would process the payment.