Banking, fintech, funds, capital markets and cross-border investment
The People's Bank of China and the Qatar Central Bank have renewed their bilateral local currency swap agreement for the third time to facilitate cross-border settlements and direct investments. Concurrently, Qatari entities established cooperation agreements with Chinese counterparts in financial services, infrastructure, technology, and diamond trading.
UAE Minister of Foreign Trade Dr. Thani bin Ahmed Al Zeyoudi attended the 42nd COMCEC session in Istanbul, calling for preferential trade activation and stronger trade finance. Figures presented showed UAE non-oil foreign trade with OIC nations reached roughly $358.1 billion in 2025.
The UAE Ministry of Finance has issued Cabinet Decision No. 173 of 2026, establishing administrative penalties for non-compliance with the country's electronic invoicing system. Fines reach up to AED 50,000 within any 12 consecutive months for failing to adopt the system or appoint an Accredited Service Provider. The new decision replaces Cabinet Decision No. 106 of 2025 and takes effect the day after publication in the Official Gazette.
OpenAI Chief Executive Officer Sam Altman has signed several agreements covering energy, government operations, and investment in Abu Dhabi. Under a multiyear partnership announced at ADIPEC, state energy firm ADNOC will deploy OpenAI Frontier across its operations alongside AI firm G42. The agreements strengthen OpenAI's regional ties as it seeks major funding from Middle East investors.
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