Latest news with #FAB
Zawya
15 hours ago
- Business
- Zawya
First Abu Dhabi Bank becomes First MENA Bank to join CIPS as direct participant
Abu Dhabi, UAE – First Abu Dhabi Bank (FAB), the UAE's global bank and one of the world's largest and safest financial institutions, has become a Direct Participant (DP) of the Cross-border Interbank Payment System (CIPS), the official cross-border payment infrastructure for Renminbi (RMB). FAB's direct participation in CIPS enhances its ability to provide clients with faster, more secure and efficient cross-border RMB payment solutions, reinforcing its leadership in cash management and clearing across the Middle East and North Africa (MENA) region, as well as its reputation for operational excellence and robust risk management. FAB is currently the only UAE bank operating a fully licensed branch in Mainland China and is committed to supporting the needs of clients and partners in both markets. As the largest bank in the UAE and a cornerstone of the nation's economic, corporate, and financial ecosystem, FAB is uniquely positioned to drive growth and innovation across the China-UAE/GCC corridor. This landmark achievement underscores FAB's leadership in digital transformation and its commitment to advancing the UAE's position as a regional financial hub. Hana Al Rostamani, Group Chief Executive Officer at FAB, said:"With a fully licensed branch in Mainland China, FAB holds a unique position among UAE banks enabling it to lead on the integration of the Renminbi into our existing global banking service offering. Our direct participation in CIPS significantly enhances our ability to provide faster, more secure and efficient RMB payment solutions and deliver real-time settlement capabilities. This development reinforces our leadership in regional cash management and clearing. It also strengthens FAB's role as a trusted financial infrastructure partner for clients transacting between China, the UAE and the broader MENA region. As cross-border transactions accelerate, we remain committed to delivering the infrastructure and innovation that enable financial connectivity at pace." FAB's participation as a Direct Participant of CIPS reflects its vision to remain at the forefront of financial innovation as MENA's leading bank. The bank continues to invest in advanced infrastructure and capabilities to ensure it remains the partner of choice for clients navigating the complexities of international trade and finance. About First Abu Dhabi Bank (FAB) Headquartered in Abu Dhabi with a global footprint across 20 markets, FAB is the finance and trade gateway to the Middle East and North Africa region (MENA). With total assets of AED 1.31 trillion (USD 356 billion) as of March-end 2025, FAB is among the world's largest banking groups. The bank provides financial expertise to its wholesale and retail client franchise across three business units: 1) Investment Banking & Markets, 2) Wholesale Banking, and 3) Personal, Business, Wealth and Privileged Client Banking Group. FAB is listed on the Abu Dhabi Securities Exchange (ADX) and rated Aa3/AA-/AA- by Moody's, S&P, and Fitch, respectively, with a stable outlook. On sustainability, FAB holds an MSCI ESG rating of 'AA', and is also ranked among the top 6% of banks globally by Refinitiv's ESG Scores and ranked the Best diversified bank in MENA by Sustainalytics ESG Risk Rating.
Al Bawaba
16 hours ago
- Business
- Al Bawaba
First Abu Dhabi Bank Becomes First MENA Bank to Join CIPS as Direct Participant, Strengthening Its Regional Cash Management and Clearing Capabilities
First Abu Dhabi Bank (FAB), the UAE's global bank and one of the world's largest and safest financial institutions, has become a Direct Participant (DP) of the Cross-border Interbank Payment System (CIPS), the official cross-border payment infrastructure for Renminbi (RMB).FAB's direct participation in CIPS enhances its ability to provide clients with faster, more secure and efficient cross-border RMB payment solutions, reinforcing its leadership in cash management and clearing across the Middle East and North Africa (MENA) region, as well as its reputation for operational excellence and robust risk is currently the only UAE bank operating a fully licensed branch in Mainland China and is committed to supporting the needs of clients and partners in both the largest bank in the UAE and a cornerstone of the nation's economic, corporate, and financial ecosystem, FAB is uniquely positioned to drive growth and innovation across the China-UAE/GCC corridor. This landmark achievement underscores FAB's leadership in digital transformation and its commitment to advancing the UAE's position as a regional financial Al Rostamani, Group Chief Executive Officer at FAB, said: "With a fully licensed branch in Mainland China, FAB holds a unique position among UAE banks enabling it to lead on the integration of the Renminbi into our existing global banking service offering. Our direct participation in CIPS significantly enhances our ability to provide faster, more secure and efficient RMB payment solutions and deliver real-time settlement capabilities. This development reinforces our leadership in regional cash management and clearing. It also strengthens FAB's role as a trusted financial infrastructure partner for clients transacting between China, the UAE and the broader MENA region. As cross-border transactions accelerate, we remain committed to delivering the infrastructure and innovation that enable financial connectivity at pace." FAB's participation as a Direct Participant of CIPS reflects its vision to remain at the forefront of financial innovation as MENA's leading bank. The bank continues to invest in advanced infrastructure and capabilities to ensure it remains the partner of choice for clients navigating the complexities of international trade and finance. © 2000 - 2025 Al Bawaba ( Signal PressWire is the world's largest independent Middle East PR distribution service.
Mail & Guardian
a day ago
- Business
- Mail & Guardian
G20 must act to stop greenwashing by fossil fuel companies
The G20 must take a strong stand against greenwashing by fossil fuel companies. Fossil fuel companies are spending millions to clean up their image, not their emissions. A new report by Fossil Ad Ban (FAB), an initiative of Fossil Free South Africa, shows just how far the industry will go to protect its profits and delay real climate action. The report presents striking evidence of how greenwashing — the use of misleading marketing to appear environmentally responsible — allows some of the world's most polluting companies to dodge accountability amid an escalating climate crisis. From 20 May to 15 July 2024, the FAB documented 200 fossil fuel advertisements from six major companies operating in South Africa: Astron Energy, BP, Engen, Sasol, Shell and TotalEnergies. These adverts appeared on five media platforms — outdoor billboards, print publications, online channels, television and radio — saturating the public space with a carefully curated narrative of environmental commitment and community upliftment. But behind the scenes, these same companies continue to invest in fossil fuel expansion, lobby against environmental regulations and delay the country's transition to renewable energy. FAB's research tracked not only the volume of these advertisements but also how they sought to mislead. The report categorises the ads into competitions, corporate sponsorships, community partnerships, so-called corporate social responsibility initiatives, and promotional specials. In all cases, the aim is the same: to maintain social license, distract from environmental harm and buy time for climate action. This is not just about advertising. It's about the power of influence. When polluting industries are allowed to dominate public messaging by framing themselves as green, responsible and even indispensable, it distorts the public's understanding of the climate crisis and undermines the urgency of real solutions. Countries such as France and the Netherlands have already taken steps to restrict misleading advertising — greenwashing. According to its mandate, the G20's Environmental and Climate Sustainability Working Group has a responsibility to address the environment and climate crisis. Misleading advertising must be banned. By doing so, we will expose harm caused by fossil fuel companies, weaken their industry's influence and support a fair transition to a cleaner future. If a ban is implemented, fossil fuel companies understand that can lead to loss of profit through reduced public support because public participation helps fossil fuel companies to maintain influence and legitimacy. The only way to challenge this is through implementing laws and regulations to curb the spread of misinformation. The FAB report shows that as early as 1965, 20 fossil fuel companies can be directly linked to 35% of all carbon dioxide and methane. The Guardian article lists the 20 companies, which include G20 countries: BP (United Kingdom), Total SA (France), PetroChina, Saudi Aramco (Saudi Arabia), Gazprom (Russia), Petrobras (Brazil) and BHP Billiton (Australia). The G20's Environmental and Climate Sustainability Working Group must act immediately and pressure countries o show urgency by implementing fossil fuel bans in their countries. To truly confront the climate crisis, the G20 must take a firm stand against greenwashing, starting with laws that regulate and ban deceptive advertising by fossil fuel companies. Lazola Kati is the coordinator for the Fossil Ad Ban campaign, a programme of Fossil Free South Africa.
Finextra
3 days ago
- Business
- Finextra
First Abu Dhabi Bank deploys iGCBdebt management tech
Intellect Global Consumer Banking (iGCB), a business unit of Intellect Design Arena Limited, announced that First Abu Dhabi Bank (FAB), the UAE's global bank, has successfully implemented Intellect Consumer Banking's Debt Management solution offered as a part of Lending. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. The initiative marks a pivotal step in FAB's credit strategy to enhance operational efficiency and customer experience by transitioning to a comprehensive and automated digital process. The integration of debt management automates various processes and links over ten subsystems within FAB, allowing for real-time data visibility of the credit portfolio. This enhancement is aligned with the bank's forward-looking vision to fully automate its debt collection features over the next five years, reinforcing its customer-first approach and ambition to grow stronger by investing in technology and people. Post the implementation of Lending, the bank will be able to: – Create collection strategies in Lending application through equal distribution, percentage allocation and bucket based queue stamping – Efficiently manage collections across loan and card variants through the Lending application – Streamline the collection process and reduce the cost of recovery – Efficiently partner with loan recovery agencies to improve collection by getting complete visibility of the information and actions taking place with agencies working on debt First Abu Dhabi Bank is embarking on a transformative journey with Intellect, by implementing Intellect's Lending, thereby marking a significant step in the bank's digital roadmap. This collaboration reflects FAB's commitment to providing the most efficient, customer-centric banking experience across its expanding global network, building upon a technology partnership with Intellect that began in 2005. Rajesh Saxena, CEO, Intellect Global Consumer Banking, said, 'At Intellect consumer banking, we are honoured to collaborate with First Abu Dhabi Bank (FAB) on this crucial initiative, reinforcing a shared commitment to innovation and digital transformation. FAB's decision to implement Digital Lending, following their investment in our core banking and digital engagement platform, highlights the strength of this partnership and FAB's confidence in our advanced solutions. We remain dedicated to empowering our partners, including FAB, on their digital transformation journey, equipping them with innovative solutions that cater to the evolving demands of their customers.'
Business Upturn
5 days ago
- Business
- Business Upturn
First Abu Dhabi Bank implements Intellect Design Arena's AI-powered debt management solution
Intellect Global Consumer Banking (iGCB), a unit of Intellect Design Arena Ltd., has announced the successful implementation of its cutting-edge Debt Management solution by First Abu Dhabi Bank (FAB), the UAE's premier global bank. This milestone is part of FAB's strategic vision to enhance operational efficiency and elevate customer experience by transitioning to a fully digital and automated credit management system. The debt management solution is part of Intellect's Lending platform, designed to revolutionize how banks manage loan recovery and collections. By integrating over ten internal subsystems within FAB, the solution ensures real-time visibility into the bank's entire credit portfolio. This digital shift marks a major leap forward in FAB's journey toward full automation of its debt collection operations within the next five years. With the adoption of Lending, FAB is streamlining its collection strategies, enhancing collaboration with recovery agencies, and significantly reducing the cost of recovery. The move not only strengthens FAB's digital infrastructure but also reinforces its long-standing commitment to customer-first banking and continuous investment in technology and human capital. This implementation builds on a trusted partnership between FAB and Intellect Design Arena that began in 2005, reflecting a shared vision to deliver innovative and efficient banking solutions across FAB's global network. As FAB continues its digital transformation, the collaboration with Intellect positions the bank at the forefront of future-ready financial services. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
