First Abu Dhabi Bank (FAB) has made significant strides in international finance, becoming the first bank in the Middle East and North Africa (MENA) region to directly join the Cross-border Interbank Payment System (CIPS). This move significantly boosts FAB’s capacity to offer quicker, more secure, and efficient cross-border payments in Chinese Renminbi (RMB), as CIPS is the official payment system for the currency.

This direct participation in CIPS strengthens FAB’s standing in cash management and clearing throughout the MENA region. FAB is also unique as the only UAE bank with a fully licensed branch in mainland China, demonstrating its dedication to serving clients and partners in both markets. This aligns with FAB’s focus on digital transformation and its goal of solidifying the UAE’s position as a regional financial hub.

Hana Al Rostamani, Group CEO at FAB, emphasized that their direct involvement in CIPS improves their ability to provide real-time RMB settlement capabilities. She added that this development reinforces FAB’s leadership in regional cash management and clearing, cementing its role as a reliable financial partner for transactions between China, the UAE, and the wider MENA region.

Beyond CIPS, FAB is also the first MENA bank to implement Oracle and Mastercard’s solution to transform business-to-business (B2B) finance and payments. These strategic advancements come as FAB reported a 23% year-on-year increase in net profits for the first quarter of 2025, reaching