New digital savings tools for UAE workers

Central Bank initiative to help labourers earn returns on small deposits

- BY KHITAM AL AMIR

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 or 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.

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