First Abu Dhabi Bank (FAB) has become the first bank from the Middle East and North Africa (MENA) region to join the International Advisory Council (IAC) of China’s National Financial Regulatory Administration (NFRA). The move is seen as a step toward strengthening financial ties and innovation between the United Arab Emirates and China.
FAB’s inclusion in the IAC highlights its efforts to expand corridor banking services and deepen financial integration between Asia and the Middle East. The bank aims to facilitate greater cross-border capital flows and investment partnerships through this role.
During a recent visit to China, FAB Group Chief Executive Officer Hana Al Rostamani met with Pan Gongsheng, Governor of the People’s Bank of China. They jointly witnessed the signing of the Renminbi (RMB) Clearing Agreement, which designates FAB as the first RMB Clearing Bank in the MENA region. This development is expected to make settlements more efficient and provide broader RMB access for clients in both the UAE and neighboring countries.
FAB also partnered with China’s Industrial and Commercial Bank of China (ICBC) and the UAE Ministry of Investment to promote cooperation in investment banking, capital markets, and sustainable finance. In addition, a Memorandum of Understanding was signed with the UAE Ministry of Investment to enhance collaboration in asset management and support long-term capital growth initiatives between both countries.
These initiatives are part of FAB’s strategy to reinforce its position as a key financial link between MENA and Asia.
Hana Al Rostamani stated: “FAB’s appointment to China’s International Advisory Council represents a strategic step in strengthening global economic connectivity and collaboration. Building on the strategic agreements signed during the visit, this appointment reinforces FAB’s commitment to fostering cross-border trade, investment, and sustainable growth. We will continue to build on this momentum by deepening our partnerships, expanding our international presence, and driving impactful initiatives that contribute to shared prosperity and long-term economic progress”.
Currently, FAB is the only UAE bank with an onshore presence in mainland China, supporting trade, investment, and sustainable finance activities across 20 international markets.
