Population
Online population
9M
Currency
AED
Population - 9.5M
30.7% of the UAE’s population is female, while 69.3% of the population is male.
Internet penetration - 99%
There were 9.3M internet users in the UAE in January 2023.
Launched by The Central Bank of the UAE in 2020, the FinTech Office aims to build a mature FinTech ecosystem in the UAE and position the UAE as the foremost FinTech hub regionally and globally. It works with key stakeholders to develop a FinTech ecosystem.
In the UAE, **more than 134 [FinTech businesses](https://www.mordorintelligence.com/industry-reports/uae-fintech-market#:~:text=In the UAE%2C more than,fintech companies in one location!)** employ more than 2K people. Dubai alone is home to over 80 FinTech start-ups, making it one of the region's top financial technology hubs. Additionally, with the launch of initiatives such as Dubai FDI and the Financial Services Regulatory Authority’s Innovation Testing License (FTL), it has become easier for FinTech companies to establish their business in the country.
The UAE government has been introducing various strategies for further growth and expansion of digitalization in the country. For instance, Abu Dhabi Economic Vision 2030 aims to adopt and invest in ICT infrastructure. This will further help the government to increase internet penetration and will also boost the digital infrastructure.
Banks in the UAE are regulated and monitored by the Central Bank of the United Arab Emirates. Along with the Islamic banks which are growing rapidly, there are 23 domestic banks, 26 commercial banks and 28 foreign banks in the country. Most of the best banks in Dubai & UAE provide services to both expats and UAE nationals.
<aside> 💡 **Emirates National Bank of Dubai (ENBD)** with presence in more than 10 countries over 3 continents, ENBD is by far the largest and most reliable bank originating from the UAE.
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