Al Ansari Exchange backs 'Inclusive Accounts' initiative to advance financial inclusion in the UAE

The United Arab Emirates continues to consolidate its drive toward financial inclusion through innovative initiatives aimed at broadening the base of individuals with access to formal banking services, foremost among them the Inclusive Accounts initiative launched by the Central Bank of the UAE.

The initiative aims to enable individuals with a monthly income not exceeding 5,000 dirhams to open basic digital current accounts with no minimum balance requirement, allowing them to benefit from essential financial services including salary receipt, payments, and money transfers through a virtual international bank account.

The Inclusive Accounts initiative is expected to integrate wider segments of society into the formal financial system and enhance their ability to access regulated banking services, in support of the country's financial inclusion objectives.

In the context of supporting this initiative, Al Ansari Exchange stands out as one of the active participants in the Wages Protection System, operating an extensive network of more than 280 branches across the country alongside its growing digital channels, reinforcing its capacity to reach segments that face challenges in dealing with traditional banks.

Ali Al Najjar, Chief Executive Officer of Al Ansari Exchange, affirmed that the success of the initiative depends on the strength of customer access channels and the quality of services provided, noting that combining a broad community presence with digital capabilities forms an effective bridge enabling individuals to join the formal financial system.

Al Najjar added that the company, as a key provider within the Wages Protection System, has extensive experience serving segments traditionally underserved by banking, making it a supportive partner in implementing the initiative's objectives and expanding its reach.

This step reflects the UAE's commitment to reinforcing its standing as a leading regional hub for financial inclusion, through building a financial ecosystem that is more accessible, efficient, and inclusive.