A new independent survey by YouGov, commissioned by the personalised financial marketplace Daleel, has revealed that 94% of UAE residents now own a personal bank account. This marks a significant rise from 85% in 2021, according to the World Bank’s Global Findex Database, positioning the UAE among the most banked nations worldwide, on par with the United States.
Financial Inclusion Accelerates Under National Vision
The surge in account ownership underscores the effectiveness of the UAE’s ‘We the UAE 2031’ vision and the UAE Digital Economy Strategy, which aim to drive financial inclusion and digital transformation.
“More people than ever before have access to a personal bank account in the UAE,” said PK Shrivastava, CEO at Daleel, noting that the high adoption rate is encouraging. “There is still a huge opportunity for more personalised financial products instead of ‘one-size-fits-all’ finance.”
Conducted by YouGov, the survey analysed how UAE residents interact with financial services—spanning initial product research to confidence in their chosen financial tools.
Confidence Gap in Financial Products
While two-thirds of bank account holders expressed confidence in their current accounts, a significant portion of respondents showed uncertainty about other financial products:
- 76% lacked confidence in at least one financial product they use
- 65% of mortgage holders were unsure if they had the best plan
- 62% expressed doubts about personal or auto loans
- 50% were uncertain about their credit card choices
The data suggests that product complexity and lack of clarity may hinder financial decision-making.
Call for Transparency and Personalisation
The findings also showed behavioural trends among consumers. Women were twice as likely as men to occasionally review their financial products, while 90% of all respondents indicated they regularly review or switch products—many seeking better, more tailored options.
Emirati nationals emerged as the most financially proactive group, with 80% reviewing their financial products annually.
Ridaa Shah, COO at Daleel, commented, “Consumers need the right information presented clearly, free of technical jargon. This year, finance in the UAE will embrace greater transparency and personalisation, helping people make faster, more informed decisions and boosting confidence in their financial choices.”
