Increasing the minimum salaries of citizens in the private sector facilitates bank financing

Two bankers said that requiring private sector companies to have a minimum salary of 6,000 dirhams for national employees, excluding Nafis support, would facilitate their access to financing and increase their opportunities, whether it is financing a car, a personal loan, or a credit card, as most banks require, to provide these types of financing, a salary of no less than 5,000 dirhams, allowing a maximum of 50% to be deducted from it, which is permitted according to the Central Bank’s system for personal loans.

They confirmed to Emirates Today that the minimum stipulated amount of 6,000 dirhams is a fixed and continuous salary that banks can rely on, while some banks are satisfied with a salary of 4,500 dirhams, and do not require the company to be listed in the bank’s lists, as long as the financing is a car or a credit card, unlike a personal loan, which requires the company to be listed.

They explained that banks usually include the companies that open their main accounts in them on the lists allowed to obtain financing, so they advised citizens to deal with these banks when they need to finance a car or request a loan.

In detail, banking expert Ahmed Youssef said: “Granting financing is essentially linked to the policy of each bank, whether for citizens or residents, but most banks set an average of 5,000 dirhams as a fixed salary for approving the financing of a car or a personal loan,” stressing that raising a citizen’s salary, so that the minimum is not less than 6,000 dirhams, will facilitate financing and increase approvals in accordance with the Central Bank’s system for personal loans, and not to exceed a deduction of 50% of the salary.

Youssef added: “Banks usually include the companies that open their main accounts with them on the lists allowed to obtain financing, and therefore I advise citizens who wish to obtain financing to deal with these same banks, to avoid the problems of not listing the company in this or that bank.”

In turn, banker Tamer Abu Bakr said: “Some banks agree to finance citizens with a salary starting from 4,500 dirhams, taking into account the retirement amount, but after raising the minimum, it will become easier,” pointing out that financing a car or credit card in most banks does not require listing the company in the bank’s lists, but a personal loan does. This is a problem that can be overcome by dealing directly with the same bank that the employer deals with, since the banks include these companies and their employees on the lists.

It is noteworthy that “Emirates Today” published, last October, complaints of citizens who were refused financing by banks, under the pretext that their companies are not listed, and that their salaries include “Nafis” support, which is temporary and not permanent support. The Ministry of Human Resources and Emiratisation announced, last week, an increase in the minimum salaries of citizens joining private sector jobs to 6,000 dirhams per month, starting from January 1, 2026, and making room for establishments that hired citizens before the indicated date. To him, to adjust their salaries according to the new minimum before June 30, 2026.

The new minimum salaries for citizens in the private sector apply to new work permits for citizens, as well as those that are renewed or amended as of January 1, 2026.