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United Arab Emirates Country Report

  • Published Date: November 2017

A comprehensive overview of the cards, payments and consumer banking market in United Arab Emirates.

Available for 72 markets, Lafferty Research Country Reports deliver invaluable market and competitor intelligence on payments cards, e-money, acquiring/processing, retail banking, and consumer credit. A dedicated team of analysts and researchers use both primary and secondary source data, and conduct in-depth interviews with senior industry executives and experts.

United Arab Emriates Cards and Payments Market Key Facts

  • First Abu Dhabi Bank which was created by the merging of NBAD and FGB in 2017 is now the country's largest bank, accounting for a quarter of total assets.
  • The UAE is the third-largest Islamic banking market in terms of assets after Saudi Arabia and Malaysia. Islamic banking accounts for one fifth of banking assets in the country.
  • The mortgage market is forecast to grow strongly in the forecast years as the regulator tweaked rules to stimulate the market and promote home ownership.
  • In order to reduce the government's dependence on oil for revenue, a VAT rate of five percent will be introduced on 1 January 2018.
  • The UAE is the most profitable credit cards market in the world according to Lafferty's profit pool analysis with profit per card in excess of $200 in 2016.
  • The credit card industry is heavily skewed towards the affluent segment. Just one in five adults hold a credit card and three-quarters of spending is on Premium cards.
  • Debit cards are widely held but are not popular as a payment method. Cash withdrawals account for 95 percent of billed volume.
  • Most of the large population of unskilled migrant workers receive their salary through the government administered Wages Protection System (WPS) which is accessed through a prepaid card.
  • The banking industry launched its digital wallet service in 2017. The 'Emirates Digital Wallet' is jointly owned by 16 shareholding banks and is expected to be rolled out fully in 2018.
  • Network International is the dominant acquirer in the UAE and is focused on expanding its regional business through acquisition and organic growth.

EACH REPORT INCLUDES


Demographics and Economy:
Outlines the key metrics and trends which influence the development of retail banking and payments in the country:

  • Population structure
  • Income
  • Mobile and internet use
  • Economic data

Retail Banking:
Explores the structure of the local banking system, its infrastructure and the leading players. Data includes:

  • Aggregate retail banking indicators
  • Bank branch, ATMS and POS terminals
  • Profitability of top banks

Consumer Finance:
Overview of consumer finance in the country. Categories analysed include:

  • Mortgage loans
  • Personal loans
  • Credit card loans
  • Vehicle loans

Credit Cards:
Industry-leading credit card coverage. We detail the past present and future of the industry through our data and commentary, including:

  • Market size split by consumer and commercial credit cards: number of cards, transaction volume, billed volume
  • Profit pool analysis
  • Competitive landscape: networks, issuers

Debit Cards:

  • Market size: number of cards, transaction volume, billed volume
  • Competitive landscape: networks, issuers

Prepaid Cards:

  • Market size: number of cards, transaction volume, billed volume

FIND OUT MORE

Available for 72 markets, Lafferty Research Country Reports deliver invaluable market and competitor intelligence on payments cards, mobile payments, acquiring/processing, retail banking, and consumer credit. A dedicated team of analysts and researchers use both primary and secondary source data, and conduct in-depth interviews with senior industry executives and experts.

See more Latin America Country Reports or explore the full range of Lafferty Research Country Reports.

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