A new achievement in the UAE banking sector
The UAE topped the Arab, regional and global levels in 4 main banking indicators 2021, in a global testimony from international institutions on the strength and durability of the banking system in the country, according to the Center for Competitiveness and Statistics. The four indicators are "the depth of credit information", "the absence of a credit gap", "money and banking" and the "existence of regulatory restrictions on financial transactions" indicator, where the indicators reflect the strength of the financial and banking structure in the country to establish controls and legislation that are flexible and reliable at the same time to ensure The safety and smoothness of banking operations at the level of business, companies and individuals. The number of commercial banks operating in the country increased from 20 in 1972, when banking business officially began in the UAE in the pre-union period and started its work before the establishm...