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No need to keep Dh5,000 minimum balance in your account, says UAE Central Bank

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If you were worried about keeping more money in your bank account, there’s some relief.
The Central Bank of the UAE (CBUAE) has asked all banks to put a hold on plans to increase the minimum balance requirement for retail customers from Dh3,000 to Dh5,000.

According to a circular issued on Tuesday, CBUAE has instructed banks to suspend minimum balance requirements until further notice.

Why Was the Increase Planned?

Last week, several UAE banks announced they would raise the minimum balance to Dh5,000. This followed existing guidelines under the Central Bank’s loan regulations, which set Dh3,000 as the current threshold.

However, the Central Bank has now decided to hold the increase while it studies the potential impact on the local labour market, especially on lower-middle-income employees who may struggle to maintain higher balances without incurring fees.

What This Means for You:

  • No change for now: You can continue to maintain a minimum balance of Dh3,000 without penalty.
  • No new service fees related to the Dh5,000 rule will be applied.
  • The Central Bank is monitoring the situation closely and will update banks once a final decision is made.

With over 35 years of experience in journalism, copywriting, and PR, Michael Gomes is a seasoned media professional deeply rooted in the UAE’s print and digital landscape.

Announcements

UAE travel: Emirates adds Hangzhou to its China network 

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The UAE’s flagship carrier launched its new daily service to Hangzhou on  Wednesday, marking yet another milestone in its growing network across China. The move comes hot on the heels of its recent route launch to Shenzhen, making Hangzhou the second new mainland destination in just under a month.

Flight EK310 touched down at Hangzhou Xiaoshan International Airport to a warm welcome – complete with a traditional water cannon salute and greetings from local officials and dignitaries. Passengers on the inaugural flight didn’t leave empty-handed either. They were treated to souvenir keychains, flight certificates, and Chinese tea tasting sets to mark the occasion.

The new route is operated on a Boeing 777-300ER, with flight EK310 departing Dubai at 9:40am and reaching Hangzhou by 10:00pm. The return leg, EK311, takes off from Hangzhou at 12:10am, landing back in Dubai by 4:55am, making it a convenient overnight hop for business and leisure travellers.

With this addition, Emirates now flies 49 times a week to five major Chinese cities: Beijing, Shanghai, Guangzhou, Shenzhen, and now Hangzhou.

Thanks to seamless connectivity through Dubai, travellers from over 40 European cities, 21 in Africa, and others in the Middle East and South America can now easily access one of China’s key tech and business hubs. The route also enables convenient two-way travel between Hangzhou and global cities like Istanbul, Cairo, Johannesburg, and Barcelona.

Best of all? UAE and GCC nationals can visit China visa-free for up to 30 days, making spontaneous business trips or leisure breaks even easier.

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Announcements

Self.space puts the power of photography in your hands

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Forget Snow White’s mirror — this one doesn’t compare, doesn’t critique, and answers only to you. Introducing self.space, a revolutionary sealed-room mirror photography studio that’s as private as your thoughts and as flattering as your best angle.

In a region where modesty and privacy are deeply valued, self.space is reimagining the photoshoot experience. No photographers. No spectators. No pressure. Just you and a smart mirror, inside a sound-insulated, self-directed studio designed for complete comfort and control.

Traditional photoshoots can feel intimidating — unfamiliar surroundings, judgmental eyes, and the pressure to perform. self.space changes that. Walk into a sleek studio, close the door behind you, and watch the privacy light switch on. Now it’s just you — free to pose, express, and capture your image on your terms.

“We found that people reject photos not because they lack beauty or talent — but because tension stays on their faces,” say co-founders Mitia Muravev (Founder & CEO) and Peter Bondarenko (Founder & CPO). “That tension is stronger in the Arab world, where privacy and modesty are part of daily life.” Mitia drives the brand’s vision and partnerships, while Peter leads the tech — from embedded cameras and edge AI to full-stack infrastructure. Together, they’ve created more than a photo studio — they’ve packaged confidence.

How it works:

  1. Walk in – Door closes, privacy light turns on.
  2. Capture – Use the remote to take unlimited shots.
  3. AI Perfects – Instant, natural-looking touch-ups preserve your true look.
  4. Gallery Ready – A secure link to your encrypted gallery is sent to your phone before you leave.

Whether you want professional portraits, personal mementos, or a quiet moment of self-reflection, self.space offers something rare: a private, pressure-free space to simply be yourself — and love what you see.

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Business

UAE banks to ditch OTPs via SMS and email starting Friday: Here’s what you need to do

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Starting Friday, July 25, UAE banks will begin phasing out those familiar one-time passwords (OTPs) sent via SMS and email. Instead, you’ll need to verify all your financial and online transactions, including transfers within and outside the country, directly through your bank’s mobile app.

The change is part of a Central Bank of the UAE directive aimed at boosting digital banking security and making things smoother for customers.

According to an official circular, banks have been instructed to shift entirely to in-app authentication, requiring customers to enable the feature through their mobile banking applications.

The document notes: “Based on instructions from the Central Bank of the UAE, please note that the receipt of one-time passwords via text messages or email will be gradually phased out. Customers can now complete electronic transactions with ease via the smart application by selecting the ‘Authentication via App’ feature.”

So, if you haven’t already, it’s time to update your banking app and get familiar with app-based authentication, no more scrambling for SMS codes, and a whole lot more security.

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