First Abu Dhabi Bank (FAB) has made history as the first bank in the Middle East and North Africa (MENA) region to join China’s Cross-border Interbank Payment System (CIPS) as a Direct Participant. This move allows FAB to offer clients faster, more secure, and efficient cross-border Renminbi (RMB) payment services, strengthening its leadership in cash management and clearing across the region.
FAB stands out as the only UAE bank with a fully licensed branch in Mainland China, enabling it to support the financial needs of clients and partners in both markets seamlessly. As the largest bank in the UAE and a key pillar of the country’s economic and financial framework, FAB is well placed to drive growth and innovation along the China-UAE and GCC trade corridors.
This achievement highlights FAB’s ongoing commitment to digital transformation and enhancing the UAE’s role as a regional financial hub. With a fully licensed branch in Mainland China, FAB occupies a unique position among UAE banks, enabling it to take a leading role in integrating the Renminbi into its global banking services.
Hana Al Rostamani, Group Chief Executive Officer at FAB, said:
“Our direct participation in CIPS significantly enhances our ability to provide faster, more secure and efficient RMB payment solutions and deliver real-time settlement capabilities. This development reinforces our leadership in regional cash management and clearing. It also strengthens FAB’s role as a trusted financial infrastructure partner for clients transacting between China, the UAE and the broader MENA region. As cross-border transactions accelerate, we remain committed to delivering the infrastructure and innovation that enable financial connectivity at pace.”
FAB’s direct involvement in CIPS reflects its vision to remain at the forefront of financial innovation in the MENA region. The bank continues to invest in advanced infrastructure to ensure it remains the preferred partner for clients navigating the complexities of international trade and finance.
