The increase in account ownership in the UAE is consistent with its strategic objectives to improve financial inclusion and digital transformation. According to a recent independent poll, the UAE has become one of the most banked countries in the world due to this notable increase.
According to the World Bank’s Global Findex Database, 94% of UAE citizens currently have a personal bank account, up significantly from 85% in 2021, according to a YouGov poll commissioned by the individualised financial marketplace Daleel. This puts the UAE on par with the US as one of the most banked countries in the world, demonstrating the effectiveness of the country’s aggressive financial inclusion initiatives under the “We the UAE 2031” vision and the UAE Digital Economy Strategy.
Both advancements and difficulties in the UAE’s financial environment are highlighted by the YouGov study, which investigated how citizens interact with financial services, from product research to trust in their financial instruments.
“The UAE’s progressive policies are demonstrated by the nearly universal bank account ownership rate,” stated PK Shrivastava, CEO of Daleel. To go beyond the “one-size-fits-all” approach, there is a definite chance to provide more individualised financial products.
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