Explore the full picture
The complete guide
Key Takeaways
- The UAE has 26 foreign banks, ranging from retail banking providers to institutions focused mainly on corporate, investment and private banking.
- HSBC, Citibank, Standard Chartered, Bank of Baroda and Habib Bank AG Zurich are among the international banks offering personal banking services.
- Citibank, J.P. Morgan and Bank of America give Dubai a strong US banking presence, although their customer focus differs considerably.
- International banks can be useful for customers who regularly transfer money between countries, hold several currencies or manage finances across different markets.
- Foreign banks operating in Dubai remain subject to UAE Central Bank regulations, even when their parent institutions are headquartered overseas.
- Before opening an account, compare minimum-balance rules, eligibility, international transfer charges, branch availability and the bank’s digital services.
Read the full sectionShow less
The UAE boasts a very advanced banking industry, as it is a renowned global financial hub. Banks in the UAE are quick to embrace new developments from blockchain to artificial intelligence among other things. Expats living in the country benefit from so many tailor-made services that make financial life easier, especially for people who have a very active life across borders. Expats preparing their move to the UAE also have it smooth, as they can begin their banking experience before even setting foot in the UAE.