FAB’s Participation in CIPS
FAB’s involvement within CIPS will enable it to provide faster and more secure cross-border RMB payments, reflecting the bank’s dedication to operational development, risk management, and cash flow optimization across the Middle East and North Africa (MENA) region.
FAB operates in 20 markets as a finance and trade solutions provider in the MENA region. It offers financial expertise through its retail and wholesale client franchises, covering investment banking and markets, wholesale banking, and personal, business, wealth, and privileged client banking.
As a UAE bank with a fully licensed branch in mainland China, FAB is committed to meeting the needs of its clients while adhering to local laws and regulatory requirements. This initiative highlights FAB’s focus on digital transformation and its role in advancing the financial sector in the UAE.
The integration of CIPS into FAB’s services will facilitate faster real-time settlements, thereby enhancing the bank’s intermediary position between China, the UAE, and other countries in the MENA region. This is part of FAB’s broader goal to deliver infrastructure that supports rapid international trade and finance activities.
Future Investments and Partnerships
FAB continues to invest in upgrading its infrastructure to meet the evolving demands of clients engaged in global transactions. The bank’s recent partnership with Mastercard and Oracle, aimed at developing a pilot virtual B2B card solution, further underscores FAB’s commitment to innovation.
This project integrates Mastercard’s virtual card technology directly into Oracle’s Fusion Cloud ERP platform, providing a comprehensive approach to business-to-business (B2B) finance and payments. Through such initiatives, FAB aims to maintain its position as a preferred partner for navigating the complexities of international trade and financial operations.
