The Central Bank of the UAE (CBUAE) has announced plans to launch new digital saving and investment products designed specifically for labourers and low-income earners, enabling them to earn returns on even small amounts saved or invested. The products will be offered through the Central Securities Depository System (CSDs) platform and are expected to roll out within the next one to two years, according to Emarat Al Youm.
The initiative forms part of the UAE’s broader efforts to enhance financial inclusion and simplify access to financial services for workers.
Speaking at the MENA Financial Inclusion Leaders Summit 2025 in Abu Dhabi, Saif Al Dhaheri, Assistant Governor for Banking Operations and Support Services at CBUAE, said the Central Bank is developing a dedicated agency that leverages smart contracts to streamline workers’ financial activities and improve the organisation of their financial lives.
Open Finance Enhancing Access to Banking and Investment
Al Dhaheri highlighted the progress of the Central Bank’s Open Finance system, which allows workers to manage financial transactions, compare prices, and receive tailored offers — such as when purchasing vehicles or exploring investment options abroad.
By using the platform, individuals can securely share data, view pricing across multiple institutions, and choose the most cost-efficient products without needing to visit a bank in person.
He added:
“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.”
AI to Improve Financial Inclusion
With more than 200 nationalities working in the UAE, the Central Bank aims to use artificial intelligence to communicate with workers in their native languages.
Al Dhaheri said AI-driven multilingual support will guide users in analysing and understanding financial information easily, helping them make better decisions and improving their access to essential financial services.
He also reaffirmed the strength of the UAE’s financial system, noting that banks already offer diverse services suited to workers’ needs, complemented by a robust exchange and remittance ecosystem.
A Phased Rollout of Open Finance
The Central Bank’s Open Finance Framework serves as a regulatory structure that allows users to share financial data securely with trusted institutions. In return, these institutions can provide personalised and innovative services, under strict regulatory oversight.
All financial institutions regulated by the Central Bank are required to participate by offering products covered under the framework. The rollout is taking place in phases, starting with Open Banking, followed by Open Insurance, and expanding into additional financial sectors.
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