A long-used benchmark that once defined who could qualify for personal financing in the UAE has been scrapped, with banks now told to lift the minimum salary rule that for years hovered around AED 5,000. The Central Bank of the UAE (CBUAE) issued the directive as part of a wider effort to bring more residents—especially those earning modest incomes—into the formal financial system.
Instead of relying on a uniform threshold, lenders will now set their own income requirements based on internal criteria. The adjustment opens the door for more flexible lending standards and could extend “cash on demand” options to workers who previously could not meet rigid eligibility rules.
The decision also reshapes how low-wage earners interact with the banking sector. Residents across income brackets will be able to open accounts that fall under the Central Bank’s Wage Protection System, giving banks the ability to automatically collect instalments once salaries are deposited. This mechanism is expected to help young adults, labourers, and other low-income borrowers gain access to regulated financial products without facing barriers previously tied to their pay level.
The move is one element of the UAE’s broader campaign to strengthen financial inclusion and ensure that safe, supervised banking services reach all segments of society.
