UAE banks are set to raise minimum account balance

Banks could push minimum balance from current Dh3,000 to Dh5,000

- BY HUDA ATA

Several major banks operating in the UAE plan to increase the minimum required balance for current accounts from Dh3,000 to Dh5,000 starting June 1, according to the UAE Central Bank's regulations on personal loans.

At least one leading bank has already implemented the new minimum balance, and others are expected to follow suit, according to a survey conducted by Emarat Al Youm.