UAE Central Bank scraps minimum salary requirement for loans
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Residents, including low-income workers, can now open bank accounts and access a wider range of services
The Central Bank of the UAE (CBUAE) has directed banks to abolish the long-standing minimum salary requirement for obtaining personal loans — a threshold that had typically been set at Dh5,000 across most institutions for many years.
Under the new regulation, each bank will set its own salary criteria based on internal policies, giving low-income earners broader access to financial services, including “cash on demand.”
The reform will allow all residents — particularly young people, low-wage workers, and labourers — to open bank accounts in the UAE. These accounts will be linked to the Central Bank’s Wage Protection System (WPS), enabling banks to automatically deduct loan instalments from salaries as soon as monthly wages are transferred.
This initiative forms part of a wider national effort to enhance financial inclusion and ensure that everyone in the UAE can access safe, regulated banking services.
