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Has the UAE Central Bank really removed the minimum salary requirement for personal loans, and what does this mean for residents?

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Asked 8 months, 2 weeks ago
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Day of Dubai
Yes — the Central Bank has instructed banks to cancel the previous minimum salary rule (typically around Dh5,000), allowing each bank to set its own criteria so that lower-income workers, youth, and labour-sector employees can qualify for personal financing; residents will also be able to open bank accounts linked to the Wage Protection System, enabling automatic deduction of loan instalments and supporting wider financial inclusion across the UAE. What’s your take — will this boost access to essential banking services, or increase the risk of people taking on loans they can’t afford?
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