UAE Central Bank and People’s Bank of China Discuss Cross-Border Financial Cooperation

The Central Bank of the UAE (CBUAE) conducted high-level bilateral discussions with the People's Bank of China concerning cross-border banking cooperation during the 2026 Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group in Bangkok, according to the Emirates News Agency (WAM).

Discussions between the two central banks focused on expanding bilateral cross-border payment systems, financial innovation, and sustainable finance cooperation. The monetary authorities also examined mechanisms to improve trade settlement efficiency and interbank connectivity between UAE and Chinese financial institutions to support growing non-oil trade and capital clearing.

During the summit held from 12 to 18 October, CBUAE held additional bilateral talks with the Bank of Korea, the Monetary Authority of Singapore, and the National Bank of Ethiopia. The central bank also signed a memorandum of understanding with the National Bank of Georgia covering monetary policy, banking supervision, payment systems, and financial technology.

The UAE signed a formal agreement confirming Abu Dhabi as the host city for the 2029 IMF and World Bank Annual Meetings. The gathering also marked the election of Ali Mohamed Al Hosani as the first Emirati Executive Director at the IMF. In addition, CBUAE, the UAE Ministry of Finance, and the UAE Banks Federation hosted the Annual UAE Banks Reception in Bangkok, attended by more than 600 financial sector leaders.