Banking, fintech, funds, capital markets and cross-border investment
Senior UAE officials met with Hong Kong Financial Secretary Paul Chan on the sidelines of the Asian Financial Forum. The discussions centered on advancing bilateral economic cooperation between the UAE and Hong Kong/China. The UAE delegation included the UAE Ambassador to China, the Undersecretary of the Ministry of Finance, and the UAE Consul General in Hong Kong.
The Saudi Central Bank has ended its formal participation in Project mBridge, the multilateral central bank digital currency platform developed with China and the UAE. While the central bank stated that its exit was planned following a completed proof-of-concept phase in May 2025, the disclosure has prompted debate over geopolitical pressures and non-dollar settlement systems. The platform continues operations among remaining central banks, including China, the UAE, Hong Kong, and Thailand.
An analysis published by the Australian Strategic Policy Institute highlights how front companies in jurisdictions including the UAE and Hong Kong facilitate cross-border settlements for Russian trade. The article notes correspondent banking flows involving UAE, Chinese, and US financial institutions and warns of heightened secondary sanctions scrutiny.
Trade across the Dubai Integrated Economic Zones Authority reached AED 246 billion ($66.98 billion) in the first half of 2026, marking a 17 percent increase year-on-year. The figures represent DIEZ's sixth consecutive year of record first-half trade performance. The zones accounted for approximately 16 percent of Dubai's total non-oil foreign trade during the period.
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