DUBAI : The Central Bank of the UAE has instructed banks to abolish the long-standing minimum salary requirement for personal loans previously around Dh5,000 at most institutions, Emarat Al Youm reported.
Under the revised framework, each bank will determine its own salary criteria based on internal risk and compliance policies, giving lenders greater flexibility and enabling wider access to credit products, including “cash on demand” financing.
According to Central Bank officials, the policy shift will allow all residents especially youth, low-income employees and labour-sector workers to open bank accounts in the coming period. These accounts will be linked to the Wage Protection System (WPS), enabling banks to directly deduct loan instalments from monthly salaries upon transfer.
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Authorities noted that the initiative forms part of a broader national drive to strengthen financial inclusion and ensure every individual in the UAE has access to essential banking and payment services.
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