First Abu Dhabi Bank (FAB), recognized as one of the largest and safest financial institutions globally, has achieved a significant milestone by becoming a Direct Participant (DP) of the Cross-border Interbank Payment System (CIPS). This system serves as the official infrastructure for Renminbi (RMB) cross-border payments. This achievement highlights FAB’s commitment to digital transformation and...
First Abu Dhabi Bank (FAB) has made history by becoming the first bank in the MENA region to join the Cross-border Interbank Payment System (CIPS) as a Direct Participant. This system serves as the official cross-border payment infrastructure for the Renminbi (RMB), marking a significant step for the UAE’s global bank and one of the...
First Abu Dhabi Bank (FAB) has established a strategic partnership with EDGE Group, a leading entity in advanced technology and defense. This collaboration focuses on two major financial initiatives: the implementation of FAB’s advanced Supply Chain Finance (SCF) solution and the deployment of its AI-powered Treasury Management System (TMS). Credit: Economy Middle East According to...
First Abu Dhabi Bank (FAB), the largest lender in the UAE by assets, has joined forces with the UAE sovereign wealth fund ADQ and holding company IHC to introduce a new dirham-backed stablecoin. This digital currency is intended for use by consumers, businesses, and institutions, pending regulatory approvals. The stablecoin will be issued by FAB...
Etihad Airways has announced the extension of its partnership with First Abu Dhabi Bank until 2027. This collaboration, which began in 2017, continues to reward Etihad Guest loyalty members with miles for their everyday purchases, enhancing the value for both FAB credit cardholders and Etihad Guest members. As part of the renewed agreement, UAE residents...
First Abu Dhabi Bank (FAB) has emerged as the third-largest banking institution in the Middle East and Africa, with a market capitalization of $41.54 billion. This advancement was marked by a modest increase of 0.6 percent in its market value, reflecting the bank’s competitive standing in a robust financial landscape. The total market capitalization of...
First Abu Dhabi Bank (FAB) is set to undergo a significant restructuring by splitting its operations into four new divisions. This strategic move aims to enhance its business in the Gulf region and improve shareholder returns, according to two sources familiar with the situation. As part of this reorganization, FAB has chosen Linos Lekkas, a...