FAB Becomes First Bank in MENA to Join China’s Cross-Border Payment Network
This landmark achievement underscores FAB’s leadership in digital transformation and its commitment to advancing the UAE’s position as a regional financial hub.
First Abu Dhabi Bank (FAB) , the UAE ’s global bank and one of the world’s largest and safest financial institutions, has become a Direct Participant (DP) of the Cross-border Interbank Payment System (CIPS) , the official cross-border payment infrastructure for Renminbi (RMB).
FAB’s direct participation in CIPS enhances its ability to provide clients with faster, more secure and efficient cross-border RMB payment solutions, reinforcing its leadership in cash management and clearing across the Middle East and North Africa (MENA) region, as well as its reputation for operational excellence and robust risk management.
FAB is currently the only UAE bank operating a fully licensed branch in Mainland China and is committed to supporting the needs of clients and partners in both markets.
As the largest bank in the UAE and a cornerstone of the nation’s economic, corporate, and financial ecosystem, FAB is uniquely positioned to drive growth and innovation across the China-UAE/GCC corridor.
This landmark achievement underscores FAB’s leadership in digital transformation and its commitment to advancing the UAE’s position as a regional financial hub.
“With a fully licensed branch in Mainland China, FAB holds a unique position among UAE banks enabling it to lead on the integration of the Renminbi into our existing global banking service offering. 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.”
–Hana Al Rostamani, Group Chief Executive Officer, FAB.
FAB’s participation as a Direct Participant of CIPS reflects its vision to remain at the forefront of financial innovation as MENA’s leading bank. The bank continues to invest in advanced infrastructure and capabilities to ensure it remains the partner of choice for clients navigating the complexities of international trade and finance.
