On October 28, People's Bank of China (PBOC) Governor Pan Gongsheng met with Hana Al Rostamani, Group Chief Executive Officer of First Abu Dhabi Bank (FAB), to discuss FAB's business expansion in China and deepening financial cooperation.

During the meeting, Governor Pan witnessed the signing of a RMB clearing agreement. After receiving authorization from the PBOC, FAB will become the second RMB clearing bank in the UAE and the first regional local bank to serve in this capacity. The clearing bank cooperation will provide more convenient RMB clearing services and options for economic and trade collaboration between the two countries, further facilitating bilateral trade and investment between China and the UAE.