FAB’s participation allows it to offer faster and more secure cross-border RMB payment solutions to its clients, reflecting its commitment to operational development, risk and cash management, and clearing across the MENA region.
FAB is present across 20 markets as a finance and trade solutions provider in the MENA region, offering financial expertise to its retail and wholesale client franchise across investment banking and markets, wholesale banking, and personal, business, wealth, and privileged client banking group.
FAB, as a UAE bank operating a fully licensed branch in Mainland China, is committed to supporting the needs and demands of its clients and partners, with plans to remain compliant with the laws and regulatory requirements of the industry in both the UAE and China.
This initiative reflects FAB’s commitment to digital transformation and advancing the UAE’s financial force. With a branch licensed in Mainland China, the bank is in a position to integrate RAM into its existing global banking service offering. Additionally, its participation in CIPS allows it to offer faster and more secure RMB payment solutions, delivering improved real-time settlement capabilities and strengthening its role as an intermediary between China, the UAE, and the broader MENA region for its partners and clients.
As cross-border transactions become more prevalent, the bank’s mission is to deliver the infrastructure and development necessary to enable financial connectivity at pace. FAB’s vision is to continue to invest in upgraded infrastructure and features that ensure it remains the partner of choice for clients navigating the complexities of international trade and finance.
This move follows FAB’s partnership with Mastercard and Oracle, aimed at creating a pilot programme involving a virtual card solution development. The project integrates Mastercard’s virtual card technology directly into Oracle’s Fusion Cloud Enterprise Resource Planning (ERP) platform, offering a consolidated approach to business-to-business (B2B) finance and payments.
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