UAE Central Bank to offer new digital saving and investment products for low-income earners

Abu Dhabi: The Central Bank of the UAE (CBUAE) has announced plans to introduce new digital saving and investment products designed specifically for labourers and low-income earners, enabling them to earn interest on small amounts saved or invested. The services will be offered through the Central Securities Depository System (CSDs) platform within the next one to two years, Emarat Al Youm reported.

The initiative forms part of wider efforts to improve financial inclusion and streamline financial services for workers, according to Saif Al Dhaheri, Assistant Governor for Banking Operations and Support Services at the Central Bank.

Speaking during a panel session at MENA’s Leaders Summit on Financial Inclusion 2025, held last week in Abu Dhabi, Al Dhaheri explained that the Central Bank is developing a dedicated agency using smart contracts to simplify workers’ financial lives and make them more organised.

Speaking during a panel session at the MENA Financial Inclusion Leaders Summit, held last week in Abu Dhabi, Al Dhaheri explained that the Central Bank is developing a dedicated agency using smart contracts to simplify workers’ financial lives and make them more organised.

He added that the Central Bank has already launched the Open Finance system, which allows workers to manage their financial transactions and receive comparative offers, for example, when purchasing a car or investing abroad. By accessing the Open Finance platform, users can view prices across multiple systems and select the most cost-efficient option, while sharing data securely without visiting a bank.

Al Dhaheri noted: “Another advantage offered through the Open Finance platform is that workers can open a bank account from anywhere once their information is verified. They can also access all authorised services through the system.”

He highlighted that one of the key features the Central Bank aims to introduce is the use of artificial intelligence to communicate with workers in their own languages. “With over 200 nationalities working in the UAE, we are working to cover the most widely spoken languages,” he said, emphasising that using AI to guide them in analysing and understanding financial data in a simple manner will significantly improve financial access.

Al Dhaheri stressed that the UAE’s financial system is robust, with banks offering a wide range of services that meet essential needs, in addition to an active currency exchange and remittance sector.

The Open Finance Framework, launched by the Central Bank, is a regulatory system that enables users to share their financial data securely with trusted institutions, allowing these entities to offer personalised and innovative financial services while maintaining strict oversight to protect users’ rights and security.

The framework requires all licensed financial institutions regulated by the Central Bank to participate by providing the products and services covered under the system. Its rollout is being implemented in phases, beginning with Open Banking, followed by Open Insurance, and other related sectors.