Dubai, UAE — May 27, 2025 – In a recent move aimed at supporting workers and the wider labour market, the Central Bank of the UAE has directed local banks to suspend their plans to increase the minimum bank balance requirement for retail customers.
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Earlier this month, several banks had announced plans to raise the minimum balance requirement from Dh3,000 to Dh5,000. However, following a notice from the Central Bank on Tuesday, banks have been instructed not to implement the increase until further notice. This decision comes as the regulator carefully studies the possible impact on the labour market, particularly for lower and middle-income employees.
What This Means for You
For many Nepali expatriates working in the UAE — especially those in lower middle-income jobs — maintaining a higher minimum bank balance can be challenging. The Central Bank’s suspension of the increase will ease the financial pressure on these workers, allowing them to manage their money more comfortably without the risk of penalties or account restrictions due to insufficient balances.
Bank Deposits Show Growth
The UAE Central Bank also reported an overall increase in bank deposits, which grew by 1.2% from Dh2.840 trillion in January 2025 to Dh2.874 trillion by the end of February 2025. This growth is attributed to:
- A 0.8% increase in resident deposits, totaling Dh2.625 trillion
- A 5.1% rise in non-resident deposits, reaching Dh249.1 billion
Within resident deposits, government-related entities rose by 3.8%, private sector deposits by 1.4%, and deposits from non-banking financial institutions by 5.6%.
What to Expect Next
The Central Bank has not set a timeline for when or if the increase will be implemented. Banks will wait for further instructions after the impact assessment on the labour market is completed. In the meantime, customers can continue to operate their accounts with the current minimum balance requirement of Dh3,000.
Tips for Nepali Workers in UAE:
- Monitor your bank balance: Continue to keep a minimum of Dh3,000 to avoid fees.
- Stay informed: Follow updates from your bank and the Central Bank announcements.
- Budget wisely: Use this opportunity to plan your finances carefully.
This decision is part of ongoing efforts by UAE authorities to balance financial regulations with the realities of workers’ lives in the country.
Stay tuned for more updates on this and other financial news relevant to Nepalis living and working in the UAE.