Under a memorandum of understanding with the Central Bank of the United Arab Emirates, the People's Bank of China has authorised First Abu Dhabi Bank PJSC to act as the renminbi clearing bank in the UAE.
Central Bank of the Republic of China 2025-10-27
People's Bank of China authorises First Abu Dhabi Bank to serve as the UAE's renminbi clearing bank
The People's Bank of China has authorized First Abu Dhabi Bank PJSC as the renminbi clearing bank in the UAE under a memorandum of understanding with the Central Bank of the United Arab Emirates.