Traditional banks increase rates amid changing financial landscape

Major UAE banks are offering some of the highest deposit rates in recent years as competition from digital banks intensifies. Institutions including Emirates NBD, Dubai Islamic Bank, and National Bank of Fujairah have introduced promotional deposit rates reaching up to 6.6%.

Banking experts say the move is designed to attract and retain customers while strengthening funding positions during a period of increasing digital banking adoption. Despite regional economic uncertainty, UAE banks continue reporting strong liquidity and capital positions.

Source : Reuters.