FAB joins UAE delegation to third Belt & Road Forum to support trade and investment with China
- FAB and Bank of China sign digital currency cooperation agreement on event sidelines
- UAE delegation led by His Highness Sheikh Saud bin Saqr Al Qasimi, Ruler of Ras Al Khaimah
Beijing, China, 19 October 2023: Senior representatives from First Abu Dhabi Bank (FAB), the largest bank in the United Arab Emirates (UAE), have joined the country’s high-level delegation of UAE to the third Belt & Road Forum for International Corporation (BRFIC) in Beijing, China, led by His Highness Sheikh Saud bin Saqr Al Qasimi, Ruler of Ras Al Khaimah.
FAB, which opened its first mainland China branch in 2022, attended BRFIC as part of its mission to support increased trade and investment between the UAE and China. Sameh Al Qubaisi, Group Head of Global Markets of FAB, and Martin Tricaud, Group Head of Investment Banking of FAB, participated in several BRFIC events.
At the BRFIC Digital Economy Forum, Sameh Al Qubaisi signed a digital currency cooperation agreement with Zhang Xiaodong, Executive Vice President of Bank of China. The milestone agreement was made in the presence of Cai Qi, Member of the Standing Committee of the Political Bureau of the CPC Central Committee, China, and that of His Highness Sheikh Saud bin Saqr Al Qasimi and the UAE delegation. The agreement strengthens cooperation on digital currency to better serve the China-UAE digital currency corridor. It was the only agreement signed by financial institutions at the session and marks an important step forward in the collaboration between the two institutions. It also illustrates FAB’s strong commitment and leadership in the digitalisation trend among MENA banks.
Following the BRFIC event, FAB hosted an exclusive China-UAE roundtable dinner for company executives and VIPs from UAE corporates, multilateral institutions and large enterprises headquartered in China.
Taking place from October 17-18, 2023, the BRFIC is an international political and economic forum of the Belt and Road Initiative. First held in 2017 and subsequently in 2019, the forum has garnered global attention, with President Xi Jinping of China attending the opening ceremonies of all 3 events.