First Abu Dhabi Bank (FAB) has joined the Cross-border Interbank Payment System (CIPS) as a Direct Participant. This move enhances FAB’s capacity to offer clients more efficient cross-border Renminbi (RMB) payment solutions, strengthening its cash management and clearing capabilities in the Middle East and North Africa (MENA) region.
FAB is the only UAE bank with a fully licensed branch in Mainland China, supporting clients and partners in both markets. As the largest bank in the UAE, FAB plays a significant role in driving growth across the China-UAE/GCC corridor.
Hana Al Rostamani, Group Chief Executive Officer at FAB, stated: “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.”
FAB’s involvement with CIPS highlights its commitment to financial innovation within MENA. The bank continues investing in advanced infrastructure to remain a preferred partner for international trade and finance.
