Bi-directional data transfers between a first system and a second system, which have asynchronous clock domains, are performed using a single dual-port memory. A direction control circuit, which is connected between the first and second systems, determines the desired direction of data transfer and generates one or more direction signals representative of this direction. A write control circuit is coupled to receive a direction control signal, as well as write control signals from the first and second systems. Similarly, a read control signal is coupled to receive a direction control signal, as well as read control signals from the first and second systems. If data transfer is to proceed from the first system to the second system, the write control circuit gives the first system control over the write port of the dual-port memory, and the read control circuit gives the second system control over the read port of the dual-port memory in response to the direction control signals. Conversely, if data transfer is to proceed from the second system to the first system, the write control circuit gives the second system control over the write port of the dual-port memory, and the read control circuit gives the first system control over the read port of the dual-port memory in response to the direction control signals.