Dubai, May 30, 2025 — In a significant move to alleviate financial pressure on residents, the Central Bank of the United Arab Emirates (CBUAE) has instructed all banks to suspend the planned increase of the minimum balance requirement for personal bank accounts from AED 3,000 to AED 5,000. This decision comes in response to public concern over the potential impact on lower-income individuals and small businesses.
Background of the Proposed Increase
Several banks had announced intentions to raise the minimum monthly balance requirement to AED 5,000, effective June 1, 2025. Customers failing to meet this threshold would have faced monthly fees ranging from AED 25 to AED 105, depending on the bank and account type. Exemptions were limited to those maintaining a total account balance of AED 20,000 or more, transferring a monthly salary of at least AED 15,000, or holding active credit facilities with the bank.
Central Bank’s Directive
On May 27, 2025, the CBUAE issued a circular directing all licensed financial institutions to halt the implementation of the increased minimum balance requirement and associated fees until further notice. The Central Bank stated its intention to study the potential impact of such changes on customers, particularly those with lower incomes, before allowing any adjustments to proceed.
Public Response and Implications
The proposed increase had sparked widespread concern among residents, with many expressing fears that the higher threshold would disproportionately affect individuals with limited financial means. The Central Bank’s intervention has been welcomed as a protective measure for vulnerable segments of the population.
For now, the existing minimum balance requirement of AED 3,000 remains in effect, and banks are prohibited from charging new fees related to the previously planned increase. The Central Bank’s decision underscores its commitment to ensuring that banking policies do not unduly burden consumers, especially during times of economic uncertainty.
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