UAE Suspends Minimum Bank Balance Requirement of Dh5,000
The Central Bank of the UAE has announced a suspension of the planned increase in the minimum bank balance requirement for retail customers from Dh3,000 to Dh5,000.
This decision, communicated to all licensed financial institutions, aims to study the potential impact on the labor market.
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Recently, several banks had indicated intentions to raise the minimum balance requirement. The Central Bank’s directive comes as a relief to lower middle-income employees who may struggle to maintain the higher balance.
This move reflects the Central Bank’s ongoing efforts to monitor the financial landscape, especially as recent data showed a 1.2% increase in bank deposits from January to February 2025.
The decision underscores the regulator’s commitment to supporting the financial well-being of residents in the UAE.
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